Primerica, Inc. (NYSE:PRI) Receives $281.67 Consensus Price Target from Analysts

Primerica, Inc. (NYSE:PRI) has earned a consensus recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $281.67.

A number of research firms have weighed in on PRI. Truist Financial boosted their target price on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. TD Cowen started coverage on Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 price objective on the stock. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Morgan Stanley boosted their price target on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th.

Primerica Stock Performance

Shares of PRI opened at $280.89 on Friday. Primerica has a 52-week low of $184.76 and a 52-week high of $284.37. The firm has a market cap of $9.67 billion, a price-to-earnings ratio of 17.10 and a beta of 1.09. The business’s fifty day moving average is $262.74 and its 200-day moving average is $242.87.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping the consensus estimate of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The firm had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. During the same quarter in the previous year, the firm earned $3.99 earnings per share. The business’s quarterly revenue was up 16.7% on a year-over-year basis. As a group, research analysts forecast that Primerica will post 18.05 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were paid a $0.90 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Wednesday, August 21st. Primerica’s dividend payout ratio is currently 21.91%.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated 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 directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Monday, August 26th. The shares were sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the sale, the president now owns 10,259 shares in the company, valued at $2,678,727.49. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the 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 transaction, the chief executive officer now directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $1,657,015 over the last three months. 0.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Primerica

Institutional investors and hedge funds have recently made changes to their positions in the stock. ORG Partners LLC acquired a new stake in Primerica in the 2nd quarter valued at $30,000. V Square Quantitative Management LLC bought a new stake in shares of Primerica during the third quarter worth about $31,000. UMB Bank n.a. raised its holdings in shares of Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Primerica by 493.3% in the 1st 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 in the last quarter. Finally, Blue Trust Inc. boosted its stake in Primerica by 45.5% during the 2nd 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 during the last quarter. Institutional investors own 90.88% of the company’s stock.

About Primerica

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.