Primerica (NYSE:PRI) Reaches New 1-Year High – Here’s Why

Primerica, Inc. (NYSE:PRI) hit a new 52-week high on Monday . The stock traded as high as $317.76 and last traded at $317.06, with a volume of 5343 shares. The stock had previously closed at $314.59.

Analysts Set New Price Targets

Several brokerages have issued reports on PRI. Weiss Ratings raised shares of Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday. Jefferies Financial Group raised their target price on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. TD Cowen lifted their target price on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Finally, Morgan Stanley boosted their price target on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $308.67.

Primerica Stock Up 2.5%

The stock has a fifty day moving average of $288.29 and a two-hundred day moving average of $271.63. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 13.52 and a beta of 0.88.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping the consensus estimate of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The company had revenue of $872.30 million for the quarter, compared to analyst estimates of $855.36 million. During the same period in the previous year, the firm earned $5.02 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, research analysts expect that Primerica, Inc. will post 24.6 EPS for the current year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. Primerica’s payout ratio is currently 20.13%.

Insider Transactions at Primerica

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the completion of the transaction, the president directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the sale, the chief executive officer owned 33,696 shares of the company’s stock, valued at approximately $9,451,391.04. The trade was a 4.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Primerica

Institutional investors and hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. increased its holdings in shares of Primerica by 18.1% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock valued at $66,000 after buying an additional 39 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Primerica by 1.1% during the 1st quarter. Pacer Advisors Inc. now owns 3,790 shares of the financial services provider’s stock worth $949,000 after acquiring an additional 40 shares in the last quarter. Seeds Investor LLC boosted its stake in shares of Primerica by 3.2% during the 4th quarter. Seeds Investor LLC now owns 1,374 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 42 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of Primerica by 1.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock worth $1,058,000 after acquiring an additional 45 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its holdings in shares of Primerica by 0.7% in the 4th quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider’s stock worth $1,794,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

About Primerica

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.