The stock of Primerica, Inc. (NYSE:PRI) hit a new 52-week high and has $92.93 target or 50.00% above today’s $61.95 share price. The 5 months bullish chart indicates low risk for the $3.01B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $92.93 price target is reached, the company will be worth $1.51 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.12 million shares traded hands or 238.02% up from the average. Primerica, Inc. (NYSE:PRI) has risen 29.24% since April 7, 2016 and is uptrending. It has outperformed by 24.46% the S&P500.
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. Wood reinitiated it with “Outperform” rating and $53 target price in Wednesday, September 9 report. As per Monday, August 17, the company rating was upgraded by Jefferies. The company was initiated on Friday, January 22 by William Blair. Wells Fargo initiated the stock with “Market Perform” rating in Friday, September 23 report. The rating was downgraded by Raymond James to “Outperform” on Tuesday, October 20. The stock has “Outperform” rating given by Keefe Bruyette & Woods on Wednesday, September 9. The rating was downgraded by Wood on Wednesday, July 13 to “Market Perform”.
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 2016 Q2. Its down 0.57, from 1.39 in 2016Q1. The ratio fall, 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.
Credit Agricole S A reported 13,031 shares or 0% of all its holdings. Vanguard Grp accumulated 4.17 million shares or 0.01% of the stock. Legal And General Gp Public Limited Com has invested 0% of its portfolio in Primerica, Inc. (NYSE:PRI). Bb&T Lc last reported 11,832 shares in the company. Chicago Equity Prtnrs Ltd Liability Co owns 70,395 shares or 0.12% of their US portfolio. Moreover, Profund Advsrs Limited Co has 0.02% invested in Primerica, Inc. (NYSE:PRI) for 8,381 shares. Burnham Asset Management Corp Ny holds 4,000 shares or 0.06% of its portfolio. Schwab Charles Inv Management Incorporated holds 0.02% of its portfolio in Primerica, Inc. (NYSE:PRI) for 274,131 shares. State Of Tennessee Treasury Department accumulated 50,000 shares or 0.01% of the stock. Rhumbline Advisers holds 0.02% of its portfolio in Primerica, Inc. (NYSE:PRI) for 90,377 shares. First Tru Advsrs Ltd Partnership has 52,797 shares for 0.01% of their US portfolio. Robeco Institutional Asset Mngmt Bv holds 0.02% of its portfolio in Primerica, Inc. (NYSE:PRI) for 45,000 shares. 1St Glob Advsrs has 0.03% invested in the company for 3,743 shares. Kcg accumulated 9,010 shares or 0.01% of the stock. Tiaa Cref Inv Mgmt Limited Company, a New York-based fund reported 152,427 shares.
Insider Transactions: Since May 24, 2016, the stock had 0 buys, and 11 insider sales for $1.59 million net activity. Fendler Jeffrey S. sold 5,000 shares worth $266,061. 2,000 shares were sold by Rand Alison S., worth $114,880 on Wednesday, August 31. 1,406 Primerica, Inc. (NYSE:PRI) shares with value of $80,571 were sold by Babbit Joel M.. Kelly William A. sold 1,500 shares worth $85,667. Pitts Gregory C. sold $469,817 worth of stock or 8,624 shares. Adams Michael C. sold $129,965 worth of stock.
More important recent Primerica, Inc. (NYSE:PRI) news were published by: Businesswire.com which released: “Board of Directors of Primerica, Inc. Declares $0.18 Quarterly Dividend” on November 07, 2016, also Forbes.com published article titled: “Ex-Dividend Reminder: Hawaiian Electric Industries, AFLAC and Primerica”, Seekingalpha.com published: “Will The Recent DOL Rule End Primerica?” on October 31, 2016. More interesting news about Primerica, Inc. (NYSE:PRI) was released by: Forbes.com and their article: “Primerica is Oversold” with publication date: August 02, 2016.
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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.