Morgan Stanley Cuts Primerica (NYSE:PRI) Price Target to $306.00

Key Points

• Morgan Stanley has reduced Primerica's price target from $308.00 to $306.00, while maintaining an "equal weight" rating, suggesting a potential upside of 10.51% from its previous close.
• Despite the downgrade by Morgan Stanley, other analysts remain optimistic with Keefe, Bruyette & Woods raising their target to $320.00 and Weiss Ratings reiterating a "buy" rating.
• Insider activity includes CEO Glenn J. Williams selling 2,500 shares of Primerica stock recently, reflecting a 6.43% decrease in his ownership.

Primerica (NYSE:PRI - Get Free Report) had its price objective dropped by research analysts at Morgan Stanley from $308.00 to $306.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price objective suggests a potential upside of 10.51% from the stock's previous close.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods upped their price target on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. Weiss Ratings restated a "buy (b)" rating on shares of Primerica in a research report on Saturday, September 27th. Jefferies Financial Group dropped their price target on Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research report on Monday, August 11th. Finally, BMO Capital Markets upgraded Primerica from a "market perform" rating to an "outperform" rating and upped their price target for the company from $292.00 to $318.00 in a research report on Tuesday, September 23rd. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $316.00.

Primerica Trading Down 0.2%

NYSE:PRI traded down $0.53 during trading hours on Tuesday, hitting $276.90. 18,655 shares of the stock were exchanged, compared to its average volume of 172,890. Primerica has a 52-week low of $230.98 and a 52-week high of $307.91. The firm's fifty day moving average price is $269.37 and its 200 day moving average price is $267.70. The company has a market cap of $8.97 billion, a P/E ratio of 13.69 and a beta of 0.97.

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

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 2,500 shares of the company's stock in a transaction that occurred 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 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. HB Wealth Management LLC lifted its stake in Primerica by 1.9% during the first quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider's stock worth $594,000 after purchasing an additional 38 shares in the last quarter. Olympiad Research LP lifted its stake in Primerica by 3.9% during the second quarter. Olympiad Research LP now owns 1,061 shares of the financial services provider's stock worth $290,000 after purchasing an additional 40 shares in the last quarter. Applied Finance Capital Management LLC lifted its stake in Primerica by 5.3% during the first quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider's stock worth $239,000 after purchasing an additional 42 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Primerica by 1.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock worth $881,000 after purchasing an additional 44 shares in the last quarter. Finally, Orion Porfolio Solutions LLC lifted its stake in Primerica by 1.2% during the second quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider's stock worth $1,058,000 after purchasing an additional 45 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

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.

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