Primerica, Inc. (NYSE:PRI) Receives $298.60 Consensus Price Target from Brokerages

Primerica, Inc. (NYSE:PRI) has received an average recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $298.60.

PRI has been the subject of a number of recent research reports. Morgan Stanley lowered their price objective on Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings raised shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. TD Cowen restated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Finally, Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total value of $641,025.00. Following the completion of the transaction, the chief executive officer directly owned 27,392 shares of the company’s stock, valued at $7,023,582.72. This represents a 8.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total value of $454,284.00. Following the completion of the sale, the president owned 11,611 shares in the company, valued at approximately $2,930,384.18. This represents a 13.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PRI. Burgundy Asset Management Ltd. raised its stake in shares of Primerica by 1.8% during the second quarter. Burgundy Asset Management Ltd. now owns 1,333,473 shares of the financial services provider’s stock valued at $364,932,000 after purchasing an additional 23,454 shares in the last quarter. Bank of Montreal Can lifted its holdings in Primerica by 5,277.5% in the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after purchasing an additional 1,287,243 shares during the period. Geode Capital Management LLC grew its position in Primerica by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock valued at $205,011,000 after buying an additional 37,014 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Primerica by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 642,950 shares of the financial services provider’s stock valued at $166,119,000 after buying an additional 29,621 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Primerica by 2.7% during the 4th quarter. First Trust Advisors LP now owns 505,357 shares of the financial services provider’s stock valued at $130,564,000 after buying an additional 13,274 shares during the period. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Up 0.4%

Shares of PRI stock opened at $251.00 on Friday. The company has a market cap of $7.95 billion, a P/E ratio of 10.95 and a beta of 0.92. The business has a 50 day moving average of $258.01 and a two-hundred day moving average of $261.48. Primerica has a 52 week low of $230.09 and a 52 week high of $296.00.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share for the quarter, topping analysts’ consensus estimates of $5.69 by $0.44. The business had revenue of $853.51 million for the quarter, compared to analysts’ expectations of $839.65 million. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.03 EPS. Analysts expect that Primerica will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, February 23rd were given a $1.20 dividend. This is a positive change from Primerica’s previous quarterly dividend of $1.04. The ex-dividend date was Monday, February 23rd. This represents a $4.80 annualized dividend and a yield of 1.9%. Primerica’s payout ratio is currently 20.93%.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.