Primerica, Inc. (PRI) Receives $84.67 Average Target Price from Analysts
Shares of Primerica, Inc. (NYSE:PRI) have received a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $84.67.
Several analysts have commented on the company. Wells Fargo & Company reissued a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. BidaskClub raised Primerica from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research lowered Primerica from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $81.00 price objective on shares of Primerica in a report on Friday, May 12th.
In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.68, for a total value of $242,040.00. Following the sale, the chief executive officer now directly owns 77,895 shares of the company’s stock, valued at $6,284,568.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Phocas Financial Corp. raised its stake in shares of Primerica by 4.7% in the second quarter. Phocas Financial Corp. now owns 92,696 shares of the financial services provider’s stock valued at $7,022,000 after buying an additional 4,138 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Primerica during the second quarter valued at approximately $125,000. Colony Group LLC acquired a new stake in shares of Primerica during the second quarter valued at approximately $298,000. Koch Industries Inc. acquired a new stake in shares of Primerica during the second quarter valued at approximately $237,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Primerica during the second quarter valued at approximately $283,000. 96.76% of the stock is currently owned by institutional investors.
Primerica (PRI) traded up 0.52% during midday trading on Tuesday, reaching $76.80. 144,950 shares of the company’s stock traded hands. The stock has a market cap of $3.45 billion, a PE ratio of 15.64 and a beta of 1.14. The stock’s 50 day moving average price is $79.14 and its 200-day moving average price is $79.23. Primerica has a one year low of $52.50 and a one year high of $86.45.
Primerica (NYSE:PRI) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.35 by $0.01. The firm had revenue of $413.70 million for the quarter, compared to analyst estimates of $410.97 million. Primerica had a return on equity of 18.48% and a net margin of 14.41%. Primerica’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the company earned $1.23 earnings per share. Equities analysts predict that Primerica will post $5.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be issued a $0.20 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, August 16th. Primerica’s dividend payout ratio (DPR) is presently 16.33%.
ILLEGAL ACTIVITY NOTICE: This article was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark laws. The original version of this article can be read at https://www.thecerbatgem.com/2017/08/25/primerica-inc-pri-receives-84-67-average-target-price-from-analysts.html.
Primerica Company Profile
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. 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.
Receive News & Stock Ratings for Primerica Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primerica Inc. and related stocks with our FREE daily email newsletter.