Primerica, Inc. (NYSE:PRI) Receives Average Rating of “Hold” from Analysts

Shares of Primerica, Inc. (NYSE:PRI) have been given a consensus recommendation of “Hold” by the eight research firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $296.60.

A number of equities analysts have recently commented on PRI shares. TD Cowen reissued a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Primerica in a report on Wednesday, May 6th. 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 report on Tuesday, March 3rd. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total value of $641,025.00. Following the transaction, the chief executive officer 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 Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $2,930,384.18. This trade represents a 13.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Primerica

Institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC purchased a new stake in shares of Primerica in the 3rd quarter valued at $27,000. Smartleaf Asset Management LLC boosted its stake in shares of Primerica by 186.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 69 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 74 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Primerica in the 4th quarter valued at $30,000. Finally, Quent Capital LLC purchased a new stake in shares of Primerica in the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Trading Down 0.2%

Primerica stock opened at $273.65 on Monday. The firm’s 50 day simple moving average is $263.27 and its 200 day simple moving average is $260.61. The firm has a market capitalization of $8.53 billion, a PE ratio of 11.47 and a beta of 0.91. Primerica has a 1-year low of $230.09 and a 1-year high of $288.03.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. The business had revenue of $872.30 million for the quarter, compared to analyst estimates of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. Primerica’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.02 EPS. Research analysts forecast that Primerica will post 24.08 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 21st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. Primerica’s dividend payout ratio is presently 20.13%.

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.