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.
TRADEMARK VIOLATION WARNING: This story was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://ledgergazette.com/2018/01/10/primerica-pri-receives-market-perform-rating-from-wells-fargo-co.html.
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.
Receive News & Ratings for Primerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primerica and related companies with MarketBeat.com's FREE daily email newsletter.