Morgan Stanley Raises Primerica (NYSE:PRI) Price Target to $250.00

Primerica (NYSE:PRI) had its price objective boosted by equities researchers at Morgan Stanley from $245.00 to $250.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 16.81% from the company’s current price.

A number of other analysts also recently weighed in on PRI. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Truist Financial raised their price target on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, Raymond James downgraded shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $245.50.

Primerica Stock Up 0.5 %

Shares of NYSE:PRI opened at $214.03 on Monday. Primerica has a 52-week low of $173.00 and a 52-week high of $256.56. The company has a 50 day moving average of $244.64 and a two-hundred day moving average of $221.78. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 13.48 and a beta of 1.06.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.27 by ($0.02). Primerica had a net margin of 20.37% and a return on equity of 27.83%. The firm had revenue of $726.34 million during the quarter, compared to analyst estimates of $723.64 million. During the same period last year, the business earned $3.49 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts anticipate that Primerica will post 17.76 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the transaction, the chief operating officer now directly owns 3,379 shares in the company, valued at $829,307.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the sale, the chief operating officer now directly owns 3,379 shares in the company, valued at $829,307.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John A. Jr. Addison sold 1,215 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total value of $302,535.00. Following the completion of the sale, the director now owns 16,467 shares in the company, valued at $4,100,283. The disclosure for this sale can be found here. Insiders have sold 6,708 shares of company stock worth $1,648,677 over the last ninety days. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On Primerica

Hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in shares of Primerica by 55.7% during the first quarter. American Century Companies Inc. now owns 13,707 shares of the financial services provider’s stock valued at $1,875,000 after purchasing an additional 4,901 shares during the period. US Bancorp DE increased its holdings in shares of Primerica by 1,844.1% during the first quarter. US Bancorp DE now owns 1,983 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 1,881 shares during the period. HighTower Advisors LLC increased its holdings in shares of Primerica by 4.7% during the first quarter. HighTower Advisors LLC now owns 6,839 shares of the financial services provider’s stock valued at $939,000 after purchasing an additional 307 shares during the period. Bank of Montreal Can increased its holdings in shares of Primerica by 0.8% during the first quarter. Bank of Montreal Can now owns 24,752 shares of the financial services provider’s stock valued at $3,413,000 after purchasing an additional 199 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in shares of Primerica by 33.4% during the first quarter. MetLife Investment Management LLC now owns 25,533 shares of the financial services provider’s stock valued at $3,493,000 after purchasing an additional 6,396 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.