Primerica, Inc. (NYSE:PRI) Receives $293.60 Average PT from Analysts

Primerica, Inc. (NYSE:PRI) has earned a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $296.60.

Several research firms have weighed in on PRI. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Morgan Stanley lowered their price target on Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Primerica in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods upped their target price on Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, TD Cowen reiterated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th.

Primerica Stock Performance

NYSE PRI opened at $273.65 on Monday. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 11.47 and a beta of 0.91. The stock’s 50 day moving average price is $263.27 and its two-hundred day moving average price is $260.62. Primerica has a 52 week low of $230.09 and a 52 week high of $288.03.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, beating the consensus estimate of $5.45 by $0.51. The firm had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.02 EPS. On average, equities research analysts forecast that Primerica will post 24.08 EPS for the current year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 21st will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, May 21st. Primerica’s dividend payout ratio (DPR) is currently 20.13%.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total value of $641,025.00. Following the transaction, the chief executive officer directly owned 27,392 shares of the company’s stock, valued at $7,023,582.72. This trade represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total value of $454,284.00. Following the sale, the president owned 11,611 shares of the company’s stock, valued at approximately $2,930,384.18. This represents a 13.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of Primerica

Several institutional investors and hedge funds have recently modified their holdings of PRI. Bank of Montreal Can lifted its position in shares of Primerica by 5,277.5% during the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after buying an additional 1,287,243 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Primerica by 200.3% during the fourth quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock valued at $92,414,000 after purchasing an additional 238,571 shares in the last quarter. Nordea Investment Management AB bought a new stake in shares of Primerica during the third quarter worth about $51,004,000. Life Cycle Investment Partners Ltd bought a new stake in shares of Primerica during the fourth quarter worth about $40,714,000. Finally, Millennium Management LLC increased its stake in shares of Primerica by 183.3% in the fourth quarter. Millennium Management LLC now owns 212,196 shares of the financial services provider’s stock valued at $54,823,000 after buying an additional 137,297 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.