Wells Fargo Initiates Coverage on Primerica to Market Perform

Wells Fargo Initiates Coverage on Primerica(NYSE:PRI). The shares have been rated Market Perform. The rating by Wells Fargo was issued on Sep 23, 2016.

In a different note, On Jul 13, 2016, Keefe Bruyette & Woods said it Downgrades its rating on Primerica. In the research note, the firm Raises the price-target to $58.00 per share. The shares have been rated ‘Market Perform’ by the firm.

Primerica (PRI) made into the market gainers list on Tuesdays trading session with the shares advancing 0.43% or 0.23 points. Due to strong positive momentum, the stock ended at $54.09, which is also near the day’s high of $54.73. The stock began the session at $53.67 and the volume stood at 7,50,331 shares. The 52-week high of the shares is $59.34 and the 52 week low is $37.09. The company has a current market capitalization of $2,514 M and it has 4,64,71,932 shares in outstanding.

Primerica(PRI) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $379.24M. Analysts had an estimated revenue of $370.76M. Earnings per share were $1.19. Analysts had estimated an EPS of $1.06.

Several Insider Transactions has been reported to the SEC. On Sep 9, 2016, Joel M. Babbit (director) sold 1,406 shares at $57.31 per share price.Also, On Sep 2, 2016, Alison S. Rand (Executive VP and CFO) sold 2,000 shares at $57.44 per share price.On Aug 15, 2016, Jeffrey S. Fendler (Executive Vice President) sold 1,000 shares at $56.02 per share price, according to the Form-4 filing with the securities and exchange commission.

Primerica Inc. is a distributor of financial products and focuses on term life insurance which it underwrites and mutual funds annuities and other financial products which it distributes primarily on behalf of third parties. The Company operates through the Term Life Insurance Investment and Savings Products as well as Corporate and Other Distributed Products operating segments to organize evaluate and manage its business. 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 company subsidiaries. The Investment and Savings Products segment includes mutual funds managed investments and annuities distributed through licensed broker-dealer subsidiaries and includes segregated funds. The Company also has a Corporate and Other Distributed Products segment which consists primarily of revenues and expenses related to the distribution of non-core products.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Primerica - Is it time to Sell?

Top Brokerage Firms are advising their investors on Primerica. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.