Primerica Inc. (PRI) PT Set at $83.00 by SunTrust Banks Inc.
Primerica Inc. (NYSE:PRI) has been given a $83.00 target price by research analysts at SunTrust Banks Inc. in a research note issued to investors on Friday. The firm presently has a a “buy” rating on the stock. SunTrust Banks Inc.’s target price would indicate a potential upside of 14.48% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Wells Fargo & Co. started coverage on shares of Primerica in a research note on Thursday, September 22nd. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $73.33.
Shares of Primerica (NYSE:PRI) opened at 72.50 on Friday. The stock’s 50 day moving average price is $56.04 and its 200 day moving average price is $55.19. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 16.70 and a beta of 1.02. Primerica has a one year low of $37.09 and a one year high of $73.05.
Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.09. The business earned $383.60 million during the quarter, compared to the consensus estimate of $378.67 million. Primerica had a net margin of 14.22% and a return on equity of 17.78%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Analysts forecast that Primerica will post $4.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, November 18th will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, November 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.99%. Primerica’s payout ratio is currently 16.59%.
In other Primerica news, Director Joel M. Babbit sold 1,406 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $57.31, for a total value of $80,577.86. Following the completion of the transaction, the director now owns 1,915 shares in the company, valued at $109,748.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William A. Kelly sold 1,500 shares of the company’s stock in a transaction on Monday, October 24th. The shares were sold at an average price of $55.25, for a total transaction of $82,875.00. Following the completion of the transaction, the insider now owns 22,130 shares of the company’s stock, valued at approximately $1,222,682.50. The disclosure for this sale can be found here. Corporate insiders own 1.24% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in PRI. LS Investment Advisors LLC increased its position in Primerica by 72.9% in the second quarter. LS Investment Advisors LLC now owns 2,853 shares of the company’s stock valued at $163,000 after buying an additional 1,203 shares in the last quarter. Huntington National Bank increased its position in Primerica by 4.2% in the second quarter. Huntington National Bank now owns 2,969 shares of the company’s stock valued at $170,000 after buying an additional 119 shares in the last quarter. Creative Planning increased its position in Primerica by 289.8% in the third quarter. Creative Planning now owns 3,294 shares of the company’s stock valued at $175,000 after buying an additional 2,449 shares in the last quarter. Calvert Investment Management Inc. bought a new position in Primerica during the second quarter valued at about $200,000. Finally, Bank of Montreal Can bought a new position in Primerica during the second quarter valued at about $207,000.
Primerica Company Profile
Primerica Inc (Primerica) distributes financial products to middle-income households. The Company operates through three segments. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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