The stock of Primerica, Inc. (NYSE:PRI) is a huge mover today! About 257,763 shares traded hands. Primerica, Inc. (NYSE:PRI) has risen 25.69% since February 29, 2016 and is uptrending. It has outperformed by 13.48% the S&P500.
The move comes after 7 months positive chart setup for the $2.55 billion company. It was reported on Oct, 3 by Barchart.com. We have $81.63 PT which if reached, will make NYSE:PRI worth $1.28 billion more.
Analysts await Primerica, Inc. (NYSE:PRI) to report earnings on November, 2. They expect $1.13 earnings per share, up 15.31% or $0.15 from last year’s $0.98 per share. PRI’s profit will be $52.95 million for 12.04 P/E if the $1.13 EPS becomes a reality. After $1.19 actual earnings per share reported by Primerica, Inc. for the previous quarter, Wall Street now forecasts -5.04% negative EPS growth.
Primerica, Inc. (NYSE:PRI) Ratings Coverage
Out of 6 analysts covering Primerica Inc. (NYSE:PRI), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. Primerica Inc. has been the topic of 7 analyst reports since August 17, 2015 according to StockzIntelligence Inc. Keefe Bruyette & Woods reinitiated Primerica, Inc. (NYSE:PRI) on Wednesday, September 9 with “Outperform” rating. William Blair initiated the stock with “Outperform” rating in Friday, January 22 report. Wood reinitiated the stock with “Outperform” rating in Wednesday, September 9 report. Wells Fargo initiated the stock with “Market Perform” rating in Friday, September 23 report. As per Wednesday, July 13, the company rating was downgraded by Wood. The firm earned “Outperform” rating on Tuesday, October 20 by Raymond James. Jefferies upgraded the shares of PRI in a report on Monday, August 17 to “Buy” rating.
According to Zacks Investment Research, “Primerica, Inc. provides financial products and services. It assists its clients in meeting their needs for term life insurance, which it underwrites, and mutual funds, variable annuities and other financial products, which it distributes primarily on behalf of third parties. The Company’s mission is to serve middle income families by helping them make informed financial decisions and providing them with a strategy and means to gain financial independence. The Company’s sales representatives use its proprietary financial needs analysis, or FNA, tool and an educational approach to demonstrate how its products can assist clients to provide financial protection for their families, save for their retirement and manage their debt. The Company’s clients are generally middle income consumers. Primerica also provides an entrepreneurial business opportunity for individuals to distribute its financial products. The Company is based in Duluth, Georgia.”
Insitutional Activity: The institutional sentiment decreased to 0.82 in Q2 2016. Its down 0.57, from 1.39 in 2016Q1. The ratio dived, as 20 funds sold all Primerica, Inc. shares owned while 86 reduced positions. 25 funds bought stakes while 62 increased positions. They now own 51.53 million shares or 2.44% less from 52.83 million shares in 2016Q1.
Price T Rowe Associate Md accumulated 16,330 shares or 0% of the stock. Rs Mgmt Ltd Co accumulated 1.25M shares or 0.73% of the stock. The New York-based Clinton Gp has invested 0.05% in Primerica, Inc. (NYSE:PRI). Citigroup holds 0% of its portfolio in Primerica, Inc. (NYSE:PRI) for 23,208 shares. Ridgeworth Cap Management Ltd Liability reported 1.02 million shares or 0.52% of all its holdings. Brown Advisory last reported 667,869 shares in the company. Legal And General Gp Public Limited Co holds 32,276 shares or 0% of its portfolio. Kayne Anderson Rudnick Invest Mngmt Lc has 3.50M shares for 3.02% of their US portfolio. Citadel Lc reported 6,023 shares or 0% of all its holdings. Ameriprise Financial reported 160,642 shares or 0.01% of all its holdings. Tci Wealth Advsr Inc, a Arizona-based fund reported 200 shares. Americafirst Ltd Limited Liability Company holds 0% of its portfolio in Primerica, Inc. (NYSE:PRI) for 13,640 shares. Brc Management Ltd Company accumulated 0.13% or 13,288 shares. The United Kingdom-based Cantab Capital Partners Llp has invested 0% in Primerica, Inc. (NYSE:PRI). Federated Investors Pa last reported 44,621 shares in the company.
Insider Transactions: Since May 24, 2016, the stock had 0 insider buys, and 10 sales for $1.51 million net activity. 2,500 shares were sold by Adams Michael C., worth $129,965. Shares for $56,020 were sold by Fendler Jeffrey S.. Shares for $84,421 were sold by Kelly William A.. On Wednesday, September 7 the insider Babbit Joel M. sold $80,571. Pitts Gregory C. also sold $469,817 worth of Primerica, Inc. (NYSE:PRI) on Wednesday, May 25. Another trade for 2,000 shares valued at $114,880 was made by Rand Alison S. on Wednesday, August 31.
More recent Primerica, Inc. (NYSE:PRI) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Hawaiian Electric Industries, AFLAC and Primerica” on August 18, 2016. Also Forbes.com published the news titled: “Primerica is Oversold” on August 02, 2016. Investmentnews.com‘s news article titled: “Primerica expects to pay $4M-$5M per year to comply with DOL fiduciary rule” with publication date: August 12, 2016 was also an interesting one.
PRI Company Profile
Primerica Inc. (Primerica), incorporated on October 26, 2009, is a distributor of financial products to middle-income households in the United States and Canada. The Firm operates through three divisions: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance firm subsidiaries. The Investment and Savings Products segment includes retail and managed mutual funds, and annuities distributed through licensed broker-dealer subsidiaries and includes segregated funds, an individual annuity savings product that it underwrites in Canada through Primerica Life Insurance Company of Canada (Primerica Life Canada). In the United States, it distributes mutual fund and annuity products of various third-party companies. It also earns fees for account servicing on a subset of the mutual funds it distributes. In Canada, it offers a Primerica-branded fund-of-funds mutual fund product, as well as mutual funds of mutual fund companies. The Corporate and Other Distributed Products segment consists of revenues and expenses related to the distribution of non-core products, allocated net investment income, prepaid legal services and various financial products other than its core term life insurance products underwritten or offered by third-party providers.
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