Primerica (NYSE:PRI) Sets New 1-Year High – What’s Next?

Primerica, Inc. (NYSE:PRI)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $275.48 and last traded at $275.00, with a volume of 26341 shares trading hands. The stock had previously closed at $269.72.

Analyst Ratings Changes

PRI has been the subject of several research analyst reports. Piper Sandler initiated coverage on Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective for the company. Jefferies Financial Group boosted their price objective on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Morgan Stanley boosted their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. TD Cowen started coverage on shares of Primerica in a research note on Wednesday. They set a “buy” rating and a $314.00 price objective on the stock. Finally, StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $281.67.

Primerica Trading Up 2.8 %

The firm has a fifty day moving average of $258.27 and a 200 day moving average of $241.47. The company has a market capitalization of $9.54 billion, a P/E ratio of 16.82 and a beta of 1.09.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $748.88 million. During the same period in the previous year, the business posted $3.99 earnings per share. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. Sell-side analysts anticipate that Primerica, Inc. will post 18.03 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Wednesday, August 21st. This is a boost from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio is 21.91%.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’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 value of $757,650.00. Following the transaction, the chief executive officer now owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the chief executive officer now directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the president now owns 10,259 shares in the company, valued at $2,678,727.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,500 shares of company stock valued at $1,657,015. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Primerica

Several large investors have recently made changes to their positions in PRI. ORG Partners LLC purchased a new position in shares of Primerica in the second quarter valued at about $30,000. UMB Bank n.a. raised its position in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position 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 worth $45,000 after acquiring an additional 148 shares in the last quarter. Blue Trust Inc. increased its stake in Primerica by 45.5% during the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 60 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Primerica in the 2nd quarter valued at approximately $71,000. 90.88% of the stock is currently 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.