Primerica (PRI) Receives “Market Perform” Rating from Wells Fargo & Co

Wells Fargo & Co reissued their market perform rating on shares of Primerica (NYSE:PRI) in a research report sent to investors on Tuesday. The brokerage currently has a $100.00 price target on the financial services provider’s stock, up from their prior price target of $95.00.

PRI has been the subject of several other reports. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $87.00 target price on shares of Primerica in a report on Monday, October 16th. Zacks Investment Research raised Primerica from a hold rating to a buy rating and set a $96.00 target price for the company in a report on Wednesday, October 11th. ValuEngine raised Primerica from a hold rating to a buy rating in a report on Sunday, December 31st. Finally, SunTrust Banks lowered Primerica from a buy rating to a hold rating in a report on Thursday, October 19th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $92.40.

Primerica (PRI) traded down $1.65 during mid-day trading on Tuesday, hitting $102.40. The stock had a trading volume of 319,060 shares, compared to its average volume of 222,487. The company has a market capitalization of $4,530.00, a price-to-earnings ratio of 19.88, a PEG ratio of 1.71 and a beta of 1.24. Primerica has a 52 week low of $69.90 and a 52 week high of $106.40.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.09. The company had revenue of $427.30 million during the quarter, compared to analyst estimates of $425.83 million. Primerica had a return on equity of 18.94% and a net margin of 14.55%. Primerica’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 earnings per share. research analysts forecast that Primerica will post 5.36 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, November 16th. Primerica’s dividend payout ratio (DPR) is 15.53%.

In other Primerica news, VP Gregory C. Pitts sold 5,000 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total transaction of $462,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PRI. Mountain Capital Investment Advisors Inc bought a new position in Primerica during the second quarter valued at $125,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Primerica by 13.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 242 shares during the period. Flinton Capital Management LLC grew its holdings in Primerica by 69.5% during the second quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 912 shares during the period. Riverhead Capital Management LLC grew its holdings in Primerica by 68.7% during the second quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 1,030 shares during the period. Finally, Magnetar Financial LLC bought a new position in Primerica during the third quarter valued at $204,000. 95.89% of the stock is owned by institutional investors and hedge funds.

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Primerica Company Profile

Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.

Analyst Recommendations for Primerica (NYSE:PRI)

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