Primerica, Inc. (NYSE:PRI) Receives $281.67 Average Target Price from Brokerages

Shares of Primerica, Inc. (NYSE:PRI) have received an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $281.67.

Several equities analysts recently issued reports on PRI shares. Keefe, Bruyette & Woods raised their price target on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Piper Sandler initiated coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. Morgan Stanley increased their price objective on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Finally, Truist Financial upped their price target on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica 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 transaction, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated 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 directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock valued at $1,657,015 over the last ninety days. Insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its position in shares of Primerica by 30,726.7% during the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock valued at $161,102,000 after purchasing an additional 678,752 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Primerica by 66.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock valued at $23,601,000 after purchasing an additional 39,761 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Primerica by 2,986.9% during the 2nd quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider’s stock valued at $7,595,000 after purchasing an additional 31,064 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Primerica during the 2nd quarter valued at approximately $71,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Primerica by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock valued at $150,880,000 after purchasing an additional 21,836 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Up 0.5 %

Shares of NYSE:PRI opened at $278.53 on Friday. Primerica has a 52-week low of $184.76 and a 52-week high of $282.39. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of 16.95 and a beta of 1.09. The company has a 50 day moving average of $261.35 and a two-hundred day moving average of $242.33.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.24. The business had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.99 earnings per share. On average, equities analysts anticipate that Primerica will post 18.05 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 issued a dividend of $0.90 per share. The ex-dividend date was Wednesday, August 21st. This is an increase from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a dividend yield of 1.29%. Primerica’s dividend payout ratio (DPR) is presently 21.91%.

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.