Primerica, Inc. (NYSE:PRI – Get Free Report) has earned an average rating of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $219.20.
Several equities analysts recently issued reports on the company. Morgan Stanley raised their price target on Primerica from $190.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 15th. Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday. Finally, StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a report on Thursday, January 18th.
Primerica Trading Down 1.6 %
Primerica Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Tuesday, February 20th. This is a boost from Primerica’s previous quarterly dividend of $0.65. Primerica’s dividend payout ratio (DPR) is presently 17.20%.
Primerica declared that its board has approved a share buyback plan on Thursday, November 16th that permits the company to repurchase $425.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 5.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, CFO Alison S. Rand sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $210.07, for a total value of $630,210.00. Following the completion of the transaction, the chief financial officer now owns 6,444 shares in the company, valued at approximately $1,353,691.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. raised its stake in Primerica by 110.0% during the second quarter. Raleigh Capital Management Inc. now owns 126 shares of the financial services provider’s stock valued at $25,000 after buying an additional 66 shares during the last quarter. Arlington Trust Co LLC purchased a new position in Primerica during the third quarter valued at $25,000. Huntington National Bank raised its stake in Primerica by 13,200.0% during the second quarter. Huntington National Bank now owns 133 shares of the financial services provider’s stock valued at $26,000 after buying an additional 132 shares during the last quarter. LWM Advisory Services LLC bought a new stake in shares of Primerica in the 3rd quarter worth $26,000. Finally, ORG Partners LLC bought a new stake in shares of Primerica in the 4th quarter worth $26,000. Hedge funds and other institutional investors own 90.56% of the company’s stock.
Primerica Company Profile
Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.
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