Primerica (NYSE:PRI) Given New $283.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies Financial Group has lowered its price target for Primerica (NYSE:PRI) from $293.00 to $283.00, maintaining a "hold" rating, indicating a potential upside of 10.01% from its previous close.
• Other analysts have varied opinions, with Keefe, Bruyette & Woods raising their target to $320.00 and Morgan Stanley increasing theirs to $296.00, while the consensus price target remains at $313.57.
• Primerica recently reported strong quarterly earnings, with an EPS of $5.46, surpassing estimates and showing a year-over-year revenue increase.

Primerica (NYSE:PRI - Get Free Report) had its price target reduced by equities researchers at Jefferies Financial Group from $293.00 to $283.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the financial services provider's stock. Jefferies Financial Group's price objective points to a potential upside of 7.75% from the company's previous close.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods increased their target price on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research note on Monday. Morgan Stanley raised their price objective on Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $313.57.

Primerica Trading Down 0.5%

Shares of PRI stock traded down $1.34 during trading on Monday, hitting $262.65. The company's stock had a trading volume of 96,314 shares, compared to its average volume of 170,968. Primerica has a 52 week low of $230.98 and a 52 week high of $307.91. The business has a fifty day moving average of $265.22 and a 200-day moving average of $271.54. The company has a market cap of $8.51 billion, a PE ratio of 12.98 and a beta of 0.99.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.28. Primerica had a return on equity of 32.42% and a net margin of 21.48%. The firm had revenue of $796.02 million for the quarter, compared to the consensus estimate of $790.99 million. During the same quarter in the prior year, the business posted $4.71 earnings per share. The business's quarterly revenue was up .3% on a year-over-year basis. As a group, research analysts predict that Primerica will post 20.6 EPS for the current year.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the completion of the sale, the chief executive officer directly owned 36,392 shares in the company, valued at approximately $9,541,982.40. This represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company's stock.

Institutional Trading of Primerica

Several large investors have recently bought and sold shares of PRI. Mariner LLC raised its holdings in Primerica by 1.4% in the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock worth $709,000 after acquiring an additional 36 shares during the last quarter. HB Wealth Management LLC raised its stake in Primerica by 1.9% during the 1st quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider's stock valued at $594,000 after buying an additional 38 shares during the last quarter. Olympiad Research LP raised its stake in Primerica by 3.9% during the 2nd quarter. Olympiad Research LP now owns 1,061 shares of the financial services provider's stock valued at $290,000 after buying an additional 40 shares during the last quarter. Applied Finance Capital Management LLC raised its stake in Primerica by 5.3% during the 1st quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider's stock valued at $239,000 after buying an additional 42 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in Primerica by 1.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock valued at $881,000 after buying an additional 44 shares during the last quarter. 90.88% of the stock is 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.