Primerica (NYSE:PRI) Raised to "Outperform" at BMO Capital Markets

Key Points

• BMO Capital Markets has upgraded Primerica from a "market perform" rating to an "outperform" rating, raising its target price to $318.00, suggesting a potential upside of 16.71% from the current price.
• Primerica reported earnings per share of $5.46, exceeding estimates of $5.18, with a quarterly revenue of $796.02 million, slightly above analyst expectations.
• Insider trading activity included CEO Glenn J. Williams selling 2,500 shares for $655,500, reducing his ownership in the company by 6.43%.

Primerica (NYSE:PRI - Get Free Report) was upgraded by equities researchers at BMO Capital Markets from a "market perform" rating to an "outperform" rating in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $318.00 target price on the financial services provider's stock, up from their previous target price of $292.00. BMO Capital Markets' price target indicates a potential upside of 16.71% from the company's current price.

Several other analysts also recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research note on Monday, August 11th. Jefferies Financial Group lowered their price objective on Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Finally, Morgan Stanley increased their price objective on Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Primerica has an average rating of "Hold" and a consensus target price of $316.29.

Primerica Stock Performance

Shares of NYSE:PRI opened at $272.47 on Tuesday. The business's 50 day simple moving average is $266.89 and its two-hundred day simple moving average is $268.12. The firm has a market cap of $8.83 billion, a P/E ratio of 13.46 and a beta of 1.00. Primerica has a 52-week low of $230.98 and a 52-week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly 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. The business had revenue of $796.02 million for 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%.The company's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.71 earnings per share. On average, equities analysts forecast that Primerica will post 20.6 earnings per share for the current fiscal year.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the firm'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 completion of the sale, the chief executive officer directly owned 36,392 shares of the company's stock, valued at $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of Primerica

Large investors have recently bought and sold shares of the company. Hilltop National Bank purchased a new position in shares of Primerica in the second quarter valued at $31,000. Cullen Frost Bankers Inc. purchased a new position in shares of Primerica in the second quarter valued at $33,000. First Horizon Advisors Inc. grew its position in shares of Primerica by 1,714.3% in the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 120 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of Primerica by 108.5% in the second quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 77 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Primerica by 2,300.0% in the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 161 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other 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.

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