Primerica, Inc. (NYSE:PRI) Given Consensus Rating of “Hold” by Analysts

Primerica, Inc. (NYSE:PRI) has earned a consensus rating of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $275.20.

Several equities analysts have weighed in on PRI shares. Keefe, Bruyette & Woods increased their price objective on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Jefferies Financial Group lifted their price objective on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Morgan Stanley upped their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Piper Sandler began coverage on shares of Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 price target on the stock.

Primerica Stock Performance

Shares of NYSE:PRI opened at $256.71 on Wednesday. The company has a market capitalization of $8.83 billion, a P/E ratio of 15.62 and a beta of 1.09. The company’s 50-day moving average is $253.13 and its 200 day moving average is $239.75. Primerica has a fifty-two week low of $184.76 and a fifty-two week high of $265.27.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. During the same period in the previous year, the company earned $3.99 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. As a group, research analysts predict that Primerica will post 17.94 earnings per share for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.90 per share. The ex-dividend date was Wednesday, August 21st. This is a boost from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a dividend yield of 1.40%. Primerica’s dividend payout ratio is currently 21.91%.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the sale, the chief executive officer now owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the transaction, the president now owns 10,259 shares in the company, valued at $2,678,727.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,500 shares of company stock valued at $1,657,015. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primerica

Institutional investors and hedge funds have recently bought and sold shares of the stock. ORG Partners LLC bought a new position in shares of Primerica in the 2nd quarter worth $30,000. Benjamin F. Edwards & Company Inc. increased its stake in Primerica by 493.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 148 shares during the last quarter. Blue Trust Inc. raised its position in Primerica by 45.5% during the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 60 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Primerica during the second quarter worth about $71,000. Finally, O Dell Group LLC purchased a new position in shares of Primerica in the 4th quarter worth about $153,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.