Analysts Set Primerica, Inc. (NYSE:PRI) Price Target at $293.60

Shares of Primerica, Inc. (NYSE:PRI) have earned a consensus recommendation of “Hold” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $293.60.

Several research analysts have recently commented on PRI shares. Morgan Stanley decreased their price objective on Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $290.00 price objective on shares of Primerica in a report on Thursday, March 26th. TD Cowen restated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Finally, Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th.

Insider Transactions at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total transaction of $454,284.00. Following the completion of the sale, the president directly 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. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total transaction of $641,025.00. Following the sale, the chief executive officer owned 27,392 shares of the company’s stock, valued at approximately $7,023,582.72. This represents a 8.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Primerica

A number of hedge funds and other institutional investors have recently made changes to their positions in PRI. Bank of Montreal Can raised its holdings in shares of Primerica by 5,277.5% during the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after acquiring an additional 1,287,243 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Primerica by 200.3% during the fourth quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock valued at $92,414,000 after acquiring an additional 238,571 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of Primerica during the third quarter valued at about $51,004,000. Life Cycle Investment Partners Ltd purchased a new position in shares of Primerica during the fourth quarter valued at about $40,714,000. Finally, Millennium Management LLC increased its position in shares of Primerica by 183.3% during the fourth quarter. Millennium Management LLC now owns 212,196 shares of the financial services provider’s stock valued at $54,823,000 after buying an additional 137,297 shares during the period. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

Shares of PRI opened at $276.04 on Thursday. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 12.04 and a beta of 0.90. Primerica has a fifty-two week low of $230.09 and a fifty-two week high of $288.03. The firm has a 50 day moving average price of $256.53 and a 200-day moving average price of $259.54.

Primerica (NYSE:PRI) last announced its quarterly earnings data 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 firm had revenue of $853.51 million during 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 quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $5.03 EPS. As a group, equities research analysts predict that Primerica will post 23.84 earnings per share for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were issued a dividend of $1.20 per share. This is an increase from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, February 23rd. Primerica’s dividend payout ratio (DPR) 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.