Primerica, Inc. (NYSE:PRI) Receives Consensus Rating of “Hold” from Analysts

Primerica, Inc. (NYSE:PRI) has been given an average recommendation of “Hold” by the seven analysts that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $309.86.

Several brokerages have issued reports on PRI. Morgan Stanley dropped their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Piper Sandler reduced their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. TD Cowen raised their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Finally, BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target for the company.

Primerica Price Performance

NYSE:PRI opened at $285.76 on Wednesday. The stock’s 50 day simple moving average is $284.60 and its two-hundred day simple moving average is $279.81. Primerica has a 1 year low of $184.76 and a 1 year high of $307.91. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 20.78 and a beta of 1.12.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. As a group, analysts anticipate that Primerica will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a $1.04 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s payout ratio is presently 30.25%.

Insider Buying and Selling

In related news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at $56,030. This represents a 53.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,234 shares of company stock valued at $1,476,575. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after acquiring an additional 25,951 shares during the period. Barclays PLC grew its holdings in Primerica by 108.1% during the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock worth $5,428,000 after acquiring an additional 10,635 shares during the period. Sylvest Advisors LLC acquired a new position in Primerica during the fourth quarter valued at approximately $543,000. Oak Thistle LLC raised its holdings in Primerica by 64.9% during the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after buying an additional 1,943 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in shares of Primerica by 10.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after buying an additional 11,612 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Company Profile

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.