Primerica, Inc. (NYSE:PRI) Receives $310.67 Average Target Price from Brokerages

Shares of Primerica, Inc. (NYSE:PRI) have earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $310.6667.

A number of equities research analysts recently issued reports on PRI shares. Morgan Stanley upped their price target on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th. TD Cowen boosted their target price on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Jefferies Financial Group upped their target price on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Finally, Weiss Ratings cut shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th.

Primerica Price Performance

NYSE:PRI opened at $294.95 on Wednesday. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 11.85 and a beta of 0.87. Primerica has a 1 year low of $230.09 and a 1 year high of $327.28. The stock’s 50 day simple moving average is $303.34 and its two-hundred day simple moving average is $278.03.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The firm had revenue of $865.07 million during the quarter, compared to the consensus estimate of $881.00 million. During the same period in the prior year, the company earned $5.46 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, analysts anticipate that Primerica will post 25.02 EPS for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 21st. Primerica’s payout ratio is presently 19.28%.

Insider Buying and Selling at Primerica

In other news, Director Amber Lynne Cottle sold 279 shares of Primerica stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total value of $87,502.77. Following the completion of the transaction, the director owned 3,549 shares in the company, valued at approximately $1,113,072.87. The trade was a 7.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $312.65, for a total value of $562,770.00. Following the transaction, the president directly owned 8,011 shares in the company, valued at approximately $2,504,639.15. This represents a 18.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,079 shares of company stock worth $1,551,308 over the last ninety days. Company insiders own 0.63% of the company’s stock.

Institutional Trading of Primerica

Institutional investors have recently bought and sold shares of the stock. SJS Investment Consulting Inc. increased its position in Primerica by 176.2% during the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 74 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Primerica in the 2nd quarter worth about $29,000. Root Financial Partners LLC boosted its stake in shares of Primerica by 52.6% during the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 61 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Primerica by 68.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 73 shares during the period. Finally, Steph & Co. boosted its stake in shares of Primerica by 38.0% during the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 54 shares during the period. 90.88% of the stock is currently owned by institutional investors.

About Primerica

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.