Analysts Set Primerica, Inc. (NYSE:PRI) Price Target at $281.67

Primerica, Inc. (NYSE:PRI) has earned an average rating of “Hold” from the seven analysts that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $288.33.

PRI has been the topic of a number of recent research reports. Piper Sandler initiated coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price on the stock. Jefferies Financial Group raised their target price on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods raised their target price on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Morgan Stanley raised their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Finally, Truist Financial raised their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday.

Insider Buying and Selling at Primerica

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 transaction of $757,650.00. Following the transaction, the chief executive officer now owns 45,322 shares in the company, valued at $11,446,071.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $757,650.00. Following the transaction, the chief executive officer now owns 45,322 shares in the company, valued at $11,446,071.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the transaction, the president now owns 10,259 shares in the company, valued at $2,678,727.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,500 shares of company stock worth $1,657,015. 0.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PRI. Millennium Management LLC boosted its stake in Primerica by 30,726.7% in the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after purchasing an additional 678,752 shares during the period. Los Angeles Capital Management LLC boosted its stake in Primerica by 66.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock worth $23,601,000 after purchasing an additional 39,761 shares during the period. Squarepoint Ops LLC boosted its stake in Primerica by 2,986.9% in the 2nd quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider’s stock worth $7,595,000 after purchasing an additional 31,064 shares during the period. Strategic Financial Concepts LLC acquired a new position in Primerica in the 2nd quarter worth approximately $71,000. Finally, International Assets Investment Management LLC boosted its stake in Primerica by 359,742.9% in the 3rd quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock worth $6,679,000 after purchasing an additional 25,182 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Price Performance

Shares of Primerica stock opened at $297.73 on Thursday. The business has a 50-day moving average of $269.64 and a 200-day moving average of $248.48. The company has a market capitalization of $10.07 billion, a PE ratio of 22.74 and a beta of 1.08. Primerica has a 1-year low of $184.76 and a 1-year high of $298.29.

Primerica (NYSE:PRI) last issued its quarterly 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 net margin of 14.95% and a return on equity of 30.28%. The business had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. During the same quarter last year, the company posted $3.99 earnings per share. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities analysts expect that Primerica will post 18.13 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.21%. Primerica’s payout ratio is currently 27.50%.

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.