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

Primerica, Inc. (NYSE:PRI) has been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $308.6667.

A number of research analysts have recently weighed in on PRI shares. TD Cowen raised their price objective on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods raised their price target on Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Morgan Stanley lifted their price objective 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. Weiss Ratings upgraded Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, July 24th. Finally, Jefferies Financial Group boosted their target price on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research note on Friday, July 10th.

Primerica Stock Performance

Shares of Primerica stock opened at $320.75 on Friday. The company has a market capitalization of $10.00 billion, a P/E ratio of 13.45 and a beta of 0.88. The company has a fifty day moving average of $290.81 and a 200 day moving average of $272.78. Primerica has a fifty-two week low of $230.09 and a fifty-two week high of $326.78.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. During the same quarter last year, the company earned $5.02 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Analysts forecast that Primerica will post 24.65 EPS for the current year.

Primerica Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $280.49, for a total value of $420,735.00. Following the completion of the sale, the chief executive officer owned 33,696 shares in the company, valued at approximately $9,451,391.04. The trade was a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction that occurred on 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 sale, the president owned 9,811 shares of the company’s stock, valued at $2,743,548.04. The trade was a 15.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can raised its position in Primerica by 5,277.5% during the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after purchasing an additional 1,287,243 shares in the last quarter. Invesco Ltd. grew its position in shares of Primerica by 200.3% during the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after buying an additional 238,571 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new position in shares of Primerica during the 4th quarter worth $40,714,000. Millennium Management LLC increased its stake 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. Finally, Danske Bank A S purchased a new position in shares of Primerica during the third quarter valued at $30,396,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

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.