Primerica Inc. (PRI) Receives Consensus Rating of “Buy” from Analysts
Primerica Inc. (NYSE:PRI) has been given a consensus rating of “Buy” by the five ratings firms that are presently covering the firm. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $73.33.
PRI has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Wells Fargo & Co. initiated coverage on shares of Primerica in a research report on Thursday, September 22nd. They set a “market perform” rating on the stock. Finally, SunTrust Banks Inc. set a $83.00 price target on shares of Primerica and gave the stock a “buy” rating in a research report on Friday, November 11th.
In other Primerica news, Director Joel M. Babbit sold 1,406 shares of Primerica stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $57.31, for a total transaction of $80,577.86. Following the transaction, the director now directly owns 1,915 shares of the company’s stock, valued at $109,748.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William A. Kelly sold 1,500 shares of Primerica stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $55.25, for a total transaction of $82,875.00. Following the transaction, the insider now directly owns 22,130 shares in the company, valued at $1,222,682.50. The disclosure for this sale can be found here. Company insiders own 1.24% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of Primerica during the second quarter worth approximately $207,000. Parkwood LLC increased its position in shares of Primerica by 6.2% in the second quarter. Parkwood LLC now owns 86,222 shares of the company’s stock worth $4,935,000 after buying an additional 5,022 shares during the period. LS Investment Advisors LLC increased its position in shares of Primerica by 72.9% in the second quarter. LS Investment Advisors LLC now owns 2,853 shares of the company’s stock worth $163,000 after buying an additional 1,203 shares during the period. 1st Global Advisors Inc. purchased a new position in shares of Primerica during the second quarter worth approximately $214,000. Finally, Nordea Investment Management AB increased its position in shares of Primerica by 205.3% in the second quarter. Nordea Investment Management AB now owns 11,138 shares of the company’s stock worth $638,000 after buying an additional 7,490 shares during the period.
Primerica (NYSE:PRI) opened at 71.50 on Monday. The stock’s 50 day moving average is $55.57 and its 200-day moving average is $54.97. Primerica has a 1-year low of $37.09 and a 1-year high of $71.85. The company has a market capitalization of $3.27 billion, a P/E ratio of 16.47 and a beta of 1.02.
Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. The firm had revenue of $383.60 million for the quarter, compared to analyst estimates of $378.67 million. Primerica had a net margin of 14.22% and a return on equity of 17.78%. Primerica’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. On average, analysts expect that Primerica will post $4.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, November 18th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, November 16th. Primerica’s dividend payout ratio (DPR) is presently 16.59%.
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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