20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Truist Securities analyst Mark Hughes reiterated a Buy rating on Primerica, Inc. (NYSE:PRI), raising the price target to $240 from $220.
The analyst sees a meaningful acceleration in transaction volume for Primerica, which is a positive indicator of the company's fundamentals in the second quarter, expected to be reported next month.
The analyst notes that Primerica's large sales force allows it to efficiently reach middle-market consumers, primarily ignored by competing insurance companies and financial advisors.
Hughes bumped up the 2023 EPS estimate to $15.25 from $15.20 and the 2024 EPS forecast to $17.10 from $17.00.
The upswing is based on the favorable impact on the Investment & Savings Product (ISP) segment of the stronger performance of the S&P 500.
Hughes remains particularly optimistic about the company's highly-recurring Term Life revenue model and potential to benefit from stepped-up policy demand.
The analyst also remains upbeat on growth in applications for individual life insurance policies in the first two months of the second quarter (up 5.8% industry-wide) in the age categories between 0-50, most relevant to Primerica.
Industry-wide, term life sales advanced 4.7% in May compared to a gain of 8.9% for whole life and 13.1% for indexed universal life (which has a cash value component typically tied to stock market indices).
Based on the above, the analyst raised the second-quarter EPS estimate to $3.75 from $3.74. Total revenues for the quarter to be reported is expected to rise by 5.1% Y/Y to $706.24 million.
Price Action: PRI shares are trading higher by 1.05% to $201.22 on the last check Monday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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