Primerica Lowered to Outperform at Raymond James (PRI)

Raymond James lowered shares of Primerica (NYSE:PRI) from a strong-buy rating to an outperform rating in a report published on Tuesday morning, The Fly reports. The analyssts noted that the move was a valuation call.

In other Primerica news, CEO John A. Jr. Addison sold 29,969 shares of Primerica stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $43.76, for a total value of $1,311,443.44. Following the completion of the sale, the chief executive officer now owns 19,930 shares of the company’s stock, valued at approximately $872,136.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Primerica traded down 1.27% during mid-day trading on Tuesday, hitting $45.72. The stock had a trading volume of 155,859 shares. Primerica has a 12 month low of $40.36 and a 12 month high of $55.77. The stock has a market cap of $2.27 billion and a P/E ratio of 13.66. The firm has a 50 day moving average price of $45.12 and a 200-day moving average price of $45.31.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by $0.01. The company earned $350.86 million during the quarter, compared to the consensus estimate of $346.68 million. During the same quarter last year, the firm posted $0.88 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts forecast that Primerica will post $3.64 EPS for the current year.

Other analysts have also issued reports about the company. Jefferies Group upgraded Primerica from a hold rating to a buy rating and set a $50.00 target price on the stock in aresearch note on Monday, August 17th. Zacks upgraded Primerica from a hold rating to a buy rating and set a $52.00 price objective for the company in a report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods began coverage on Primerica in a report on Wednesday, September 9th. They set an outperform rating and a $53.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Primerica presently has a consensus rating of Buy and an average target price of $53.50.


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