Traders Are Bullish Primerica, Inc. (PRI) After The Stock Formed Bullish Descending Triangle Pattern

May 18, 2018 - By Nellie Hooten

Primerica, Inc. (NYSE:PRI) Logo

Investors sentiment decreased to 0.97 in 2017 Q4. Its down 0.04, from 1.01 in 2017Q3. It fall, as 20 investors sold Primerica, Inc. shares while 92 reduced holdings. 43 funds opened positions while 66 raised stakes. 41.09 million shares or 5.30% less from 43.39 million shares in 2017Q3 were reported.
Fortaleza Asset Inc holds 1.45% or 2,275 shares in its portfolio. Logan Capital Management owns 60,859 shares. New Mexico Educational Retirement Board invested in 0.04% or 11,100 shares. Prudential Financial owns 33,427 shares. Brown Advisory Inc holds 0.2% or 633,831 shares in its portfolio. First Limited Partnership holds 0.01% or 30,591 shares in its portfolio. Koch Industries Incorporated has 4,061 shares. Teachers Retirement Of The State Of Kentucky holds 10,070 shares or 0.01% of its portfolio. Financial Architects Inc stated it has 0% of its portfolio in Primerica, Inc. (NYSE:PRI). Pitcairn Commerce accumulated 0.03% or 2,796 shares. Fmr Limited Liability Co invested in 1.43M shares or 0.02% of the stock. Comml Bank Of Mellon Corporation holds 0.03% of its portfolio in Primerica, Inc. (NYSE:PRI) for 973,157 shares. Wells Fargo & Co Mn holds 0.02% in Primerica, Inc. (NYSE:PRI) or 819,368 shares. State Of New Jersey Common Pension Fund D, New Jersey-based fund reported 340,000 shares. Mason Street Advsr Limited Company holds 0.05% or 21,800 shares.

Since February 15, 2018, it had 0 insider purchases, and 7 sales for $1.92 million activity. The insider Schneider Peter W. sold 991 shares worth $100,064. The insider MCCULLOUGH ROBERT F sold $96,138. Shares for $295,997 were sold by Williams Glenn J. on Thursday, February 15.

The stock of Primerica, Inc. (PRI) formed a descending triangle with $105.25 target or 8.00 % above today’s $97.45 share price. The 7 months triangle pattern indicates low risk for the $4.26B company. If the $105.25 price target is reached, the company will be worth $340.96 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 2.20% or $2.1 during the last trading session, reaching $97.45. About 194,760 shares traded. Primerica, Inc. (NYSE:PRI) has risen 22.61% since May 18, 2017 and is uptrending. It has outperformed by 11.06% the S&P500.

Analysts await Primerica, Inc. (NYSE:PRI) to report earnings on August, 14. They expect $1.87 earnings per share, up 37.50 % or $0.51 from last year’s $1.36 per share. PRI’s profit will be $81.78M for 13.03 P/E if the $1.87 EPS becomes a reality. After $1.47 actual earnings per share reported by Primerica, Inc. for the previous quarter, Wall Street now forecasts 27.21 % EPS growth.

Primerica, Inc. (NYSE:PRI) Ratings Coverage

Among 2 analysts covering Primerica (NYSE:PRI), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. Primerica had 3 analyst reports since December 21, 2017 according to SRatingsIntel. Keefe Bruyette & Woods maintained the stock with “Hold” rating in Thursday, December 21 report. The stock of Primerica, Inc. (NYSE:PRI) has “Hold” rating given on Tuesday, January 9 by Wells Fargo. The stock of Primerica, Inc. (NYSE:PRI) earned “Hold” rating by Keefe Bruyette & Woods on Wednesday, April 11.

More recent Primerica, Inc. (NYSE:PRI) news were published by: Businesswire.com which released: “Primerica Reports First Quarter 2018 Results” on May 08, 2018. Also Globenewswire.com published the news titled: “Recent Analysis Shows Liberty Broadband, Primerica, Adtalem Global Education, Newpark Resources, Varian Medical …” on May 15, 2018. Seekingalpha.com‘s news article titled: “Primerica’s (PRI) CEO Glenn Williams on Q1 2018 Results – Earnings Call Transcript” with publication date: May 13, 2018 was also an interesting one.

Primerica, Inc., together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company has market cap of $4.26 billion. The firm operates in three divisions: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It has a 12.8 P/E ratio. It underwrites individual term life insurance products.

Primerica, Inc. (NYSE:PRI) Institutional Positions Chart

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