Analysts Set Primerica (PRI) Price Target at $103.00
Shares of Primerica (NYSE:PRI) have been given a consensus recommendation of “Hold” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $103.00.
Several research firms recently commented on PRI. Zacks Investment Research downgraded Primerica from a “hold” rating to a “sell” rating in a report on Friday, May 11th. Wells Fargo & Co set a $102.00 price objective on Primerica and gave the stock a “hold” rating in a report on Tuesday, May 8th. Finally, ValuEngine downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, April 13th.
In other Primerica news, President Peter W. Schneider sold 991 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $100.97, for a total transaction of $100,061.27. Following the completion of the sale, the president now directly owns 25,881 shares in the company, valued at approximately $2,613,204.57. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert F. Mccullough sold 500 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $95.90, for a total value of $47,950.00. Following the sale, the director now owns 18,585 shares of the company’s stock, valued at $1,782,301.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,482 shares of company stock valued at $1,474,873. Corporate insiders own 0.89% of the company’s stock.
Primerica opened at $98.65 on Thursday, according to Marketbeat Ratings. Primerica has a one year low of $70.00 and a one year high of $108.05. The stock has a market capitalization of $4.31 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.37 and a beta of 1.14.
Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, May 8th. The financial services provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.02). Primerica had a return on equity of 19.88% and a net margin of 20.87%. The business had revenue of $459.92 million during the quarter, compared to the consensus estimate of $459.83 million. During the same quarter in the previous year, the business posted $1.11 earnings per share. Primerica’s quarterly revenue was up 13.5% compared to the same quarter last year. analysts predict that Primerica will post 7.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, May 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, May 21st. This represents a $1.00 annualized dividend and a yield of 1.01%. Primerica’s payout ratio is 18.12%.
Primerica announced that its board has initiated a share buyback plan on Wednesday, February 7th that permits the company to buyback $225.00 million in shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
Primerica Company Profile
Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.
Receive News & Ratings for Primerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primerica and related companies with MarketBeat.com's FREE daily email newsletter.