Primerica (NYSE:PRI) Receives "Buy (B)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has restated Primerica's stock rating to "Buy (B)", indicating positive sentiment towards the company's performance.
• Primerica's recent quarterly earnings exceeded expectations, reporting an EPS of $5.46, surpassing consensus estimates by $0.28.
• The stock has seen various price target adjustments from analysts, with a current consensus target of $314.86 and a rating of "Moderate Buy."

Primerica (NYSE:PRI - Get Free Report)'s stock had its "buy (b)" rating restated by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

PRI has been the subject of several other research reports. Piper Sandler set a $292.00 price target on shares of Primerica and gave the company a "neutral" rating in a research note on Tuesday. Morgan Stanley dropped their price target on shares of Primerica from $308.00 to $306.00 and set an "equal weight" rating for the company in a research note on Tuesday. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research note on Monday, August 11th. Jefferies Financial Group dropped their price target on shares of Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Finally, BMO Capital Markets raised shares of Primerica from a "market perform" rating to an "outperform" rating and raised their price target for the company from $292.00 to $318.00 in a research note on Tuesday, September 23rd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $314.86.

Primerica Price Performance

Shares of NYSE:PRI opened at $269.82 on Wednesday. The company has a market cap of $8.74 billion, a price-to-earnings ratio of 13.33 and a beta of 0.97. The firm has a 50 day simple moving average of $269.65 and a 200 day simple moving average of $267.75. Primerica has a one year low of $230.98 and a one year high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, beating the consensus estimate of $5.18 by $0.28. The business had revenue of $796.02 million during 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 firm's revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.71 EPS. As a group, analysts expect that Primerica will post 20.6 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction on 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 transaction, the chief executive officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Primerica

A number of hedge funds have recently bought and sold shares of the company. Hilltop National Bank acquired a new stake in Primerica in the second quarter worth $31,000. Cullen Frost Bankers Inc. acquired a new stake in Primerica in the second quarter worth $33,000. First Horizon Advisors Inc. grew its holdings in Primerica by 1,714.3% in the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider's stock worth $35,000 after purchasing an additional 120 shares during the period. AdvisorNet Financial Inc grew its holdings in Primerica by 108.5% in the second quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider's stock worth $41,000 after purchasing an additional 77 shares during the period. Finally, Headlands Technologies LLC grew its holdings in Primerica by 2,300.0% in the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock worth $48,000 after purchasing an additional 161 shares during the period. Institutional investors own 90.88% of the company's stock.

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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