Primerica, Inc. (NYSE:PRI) Receives $275.20 Average PT from Brokerages

Primerica, Inc. (NYSE:PRI) has been assigned a consensus rating of “Hold” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $275.20.

Several brokerages have recently issued reports on PRI. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Piper Sandler began coverage on shares of Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price on the stock. Jefferies Financial Group upped their target price on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley upped their target price on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th.

Primerica Stock Performance

PRI opened at $258.49 on Wednesday. Primerica has a fifty-two week low of $184.76 and a fifty-two week high of $265.27. The firm’s fifty day moving average is $254.26 and its 200 day moving average is $240.06. The stock has a market cap of $8.74 billion, a price-to-earnings ratio of 15.73 and a beta of 1.09.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The company had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. Primerica’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.99 EPS. On average, equities research analysts predict that Primerica will post 17.94 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This is an increase from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.39%. Primerica’s dividend payout ratio (DPR) is currently 21.91%.

Insider Activity at Primerica

In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares of the company’s stock, valued at $3,846,081.35. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares of the company’s stock, valued at $3,846,081.35. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the transaction, the president now directly owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock valued at $1,657,015 over the last 90 days. Insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new stake in shares of Primerica in the second quarter valued at about $1,098,000. Dana Investment Advisors Inc. grew its position in shares of Primerica by 13.1% in the second quarter. Dana Investment Advisors Inc. now owns 3,462 shares of the financial services provider’s stock valued at $819,000 after purchasing an additional 400 shares during the period. Truist Financial Corp grew its position in shares of Primerica by 8.5% in the second quarter. Truist Financial Corp now owns 8,004 shares of the financial services provider’s stock valued at $1,894,000 after purchasing an additional 630 shares during the period. Creative Planning grew its position in shares of Primerica by 2.8% in the second quarter. Creative Planning now owns 6,043 shares of the financial services provider’s stock valued at $1,430,000 after purchasing an additional 167 shares during the period. Finally, Algert Global LLC lifted its stake in shares of Primerica by 24.5% in the second quarter. Algert Global LLC now owns 17,818 shares of the financial services provider’s stock worth $4,215,000 after buying an additional 3,509 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.