Primerica Gets a Hold Rating from Wells Fargo

In a report released yesterday, Sean Dargan from Wells Fargo maintained a Hold rating on Primerica (NYSE: PRI), with a price target of $102. The company’s shares closed yesterday at $95.35.

Dargan observed:

“We are lowering our 2018 adjusted EPS estimate at to $7.14 from $7.25 to reflect the Q1 miss as well as a higher projected tax rate guidance from PRI. No change to our 2019E and 2020E. Our price target remains $102 per share, which is based on applying a roughly 14x multiple on our forward-12 month EPS estimate. We expect PRI shares to trade down on the Q1 miss and slightly lower expected after-tax earnings in FY18.”

According to TipRanks.com, Dargan is a 2-star analyst with an average return of 1.2% and a 45.6% success rate. Dargan covers the Financial sector, focusing on stocks such as Brighthouse Financial Inc, Prudential Financial Inc, and Lincoln National Corp.

Primerica has an analyst consensus of Hold, with a price target consensus of $110.

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Based on Primerica’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $167 million. In comparison, last year the company had a net profit of $51.65 million.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock.

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Primerica, Inc. engages in the distribution of financial products to middle income households. It operates through the following segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products.