Primerica (NYSE:PRI) Price Target Cut to $301.00 by Analysts at Morgan Stanley

Primerica (NYSE:PRI - Get Free Report) had its price target lowered by stock analysts at Morgan Stanley from $306.00 to $301.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price objective would indicate a potential upside of 17.11% from the stock's previous close.

A number of other equities analysts also recently commented on PRI. Weiss Ratings restated a "buy (b)" rating on shares of Primerica in a report on Wednesday, October 8th. BMO Capital Markets raised shares of Primerica from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $292.00 to $318.00 in a research report on Tuesday, September 23rd. Keefe, Bruyette & Woods cut their price target on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a report on Tuesday, November 11th. Piper Sandler set a $292.00 price objective on shares of Primerica and gave the stock a "neutral" rating in a research report on Tuesday, October 7th. Finally, Jefferies Financial Group decreased their price target on shares of Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $309.00.

Read Our Latest Stock Analysis on PRI

Primerica Trading Up 1.2%

Shares of PRI traded up $2.97 during mid-day trading on Monday, reaching $257.02. The company had a trading volume of 41,396 shares, compared to its average volume of 172,966. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 11.82 and a beta of 0.96. The firm has a fifty day simple moving average of $267.33 and a 200-day simple moving average of $267.13. Primerica has a fifty-two week low of $230.98 and a fifty-two week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 EPS for the quarter, topping analysts' consensus estimates of $5.52 by $0.81. The business had revenue of $838.88 million during the quarter, compared to the consensus estimate of $817.81 million. Primerica had a return on equity of 31.75% and a net margin of 22.36%.The business's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.83 EPS. As a group, equities analysts predict that Primerica will post 20.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $259.65, for a total transaction of $649,125.00. Following the sale, the chief executive officer owned 33,892 shares of the company's stock, valued at $8,800,057.80. The trade was a 6.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRI. Root Financial Partners LLC acquired a new stake in Primerica during the 3rd quarter valued at approximately $27,000. Smartleaf Asset Management LLC boosted its stake in shares of Primerica by 186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider's stock valued at $29,000 after buying an additional 69 shares during the last quarter. Hilltop National Bank acquired a new stake in shares of Primerica during the second quarter worth approximately $31,000. Quent Capital LLC acquired a new stake in shares of Primerica during the third quarter worth approximately $33,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Primerica in the second quarter worth $33,000. 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.

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