Primerica (NYSE:PRI) Given New $320.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods has raised its price target for Primerica stock from $315 to $320, indicating an expected upside of 24.39% from its current price.
• Morgan Stanley also increased its target for Primerica to $296, with the average price target across analysts being $313.57 and a general rating of "Hold."
• Primerica reported earnings of $5.46 per share for the last quarter, exceeding analysts' expectations, while the company's revenue increased 0.3% year-over-year.

Primerica (NYSE:PRI - Get Free Report) had its target price increased by stock analysts at Keefe, Bruyette & Woods from $315.00 to $320.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 21.84% from the company's previous close.

Separately, Morgan Stanley boosted their price target on shares of Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Primerica presently has an average rating of "Hold" and an average target price of $313.57.

Primerica Stock Down 0.5%

Shares of PRI stock traded down $1.34 during trading hours on Monday, reaching $262.65. 96,314 shares of the company's stock were exchanged, compared to its average volume of 170,968. The stock has a market capitalization of $8.51 billion, a P/E ratio of 12.98 and a beta of 0.99. Primerica has a fifty-two week low of $230.98 and a fifty-two week high of $307.91. The business has a fifty day moving average price of $265.22 and a 200-day moving average price of $271.54.

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

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the transaction, the chief executive officer owned 36,392 shares of the company's stock, valued at approximately $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On Primerica

Several large investors have recently made changes to their positions in the company. Nuveen LLC bought a new stake in shares of Primerica in the first quarter worth about $156,019,000. GAMMA Investing LLC lifted its holdings in Primerica by 39,199.5% during the 1st quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock worth $126,132,000 after purchasing an additional 442,170 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Primerica by 171.8% during the 1st quarter. AQR Capital Management LLC now owns 315,986 shares of the financial services provider's stock worth $89,907,000 after purchasing an additional 199,715 shares during the last quarter. Raymond James Financial Inc. bought a new position in Primerica during the 4th quarter worth $34,191,000. Finally, First Trust Advisors LP increased its stake in Primerica by 35.9% during the 2nd quarter. First Trust Advisors LP now owns 437,925 shares of the financial services provider's stock worth $119,847,000 after acquiring an additional 115,754 shares during the period. Institutional investors and hedge funds own 90.88% of the company's stock.

About Primerica

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.