Primerica, Inc. (NYSE:PRI) Given Consensus Recommendation of “Hold” by Analysts

Shares of Primerica, Inc. (NYSE:PRI) have been given an average rating of “Hold” by the eight brokerages that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $298.60.

A number of research analysts recently commented on the company. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Keefe, Bruyette & Woods reduced their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 11th. TD Cowen reissued a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Morgan Stanley decreased their price target on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Tuesday.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total transaction of $641,025.00. Following the transaction, the chief executive officer directly owned 27,392 shares in the company, valued at $7,023,582.72. This trade represents a 8.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of Primerica

Institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC purchased a new position in shares of Primerica in the third quarter worth $27,000. Smartleaf Asset Management LLC grew its holdings in Primerica by 186.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 69 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Primerica in the 4th quarter worth $30,000. Quent Capital LLC purchased a new position in shares of Primerica in the third quarter valued at about $33,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Primerica by 1,714.3% during the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

Shares of PRI opened at $261.28 on Wednesday. Primerica has a 1-year low of $230.09 and a 1-year high of $296.00. The company has a market capitalization of $8.27 billion, a P/E ratio of 11.39 and a beta of 0.92. The firm’s 50 day simple moving average is $260.64 and its 200 day simple moving average is $263.16.

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

Primerica declared that its board has approved a stock buyback program on Wednesday, November 19th that authorizes the company to repurchase $475.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 5.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, February 23rd will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, February 23rd. This is a boost from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio is 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.