Primerica, Inc. (NYSE:PRI) Given Average Recommendation of “Hold” by Analysts

Shares of Primerica, Inc. (NYSE:PRI) have been given an average rating of “Hold” by the six brokerages that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $275.20.

A number of analysts have issued reports on the stock. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Truist Financial boosted their target price on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Piper Sandler started coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. Finally, Jefferies Financial Group boosted their target price on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th.

Primerica Stock Performance

Shares of PRI opened at $258.60 on Wednesday. The company’s 50 day moving average price is $254.26 and its 200 day moving average price is $239.92. Primerica has a 52 week low of $184.76 and a 52 week high of $265.27. The company has a market capitalization of $8.90 billion, a PE ratio of 15.74 and a beta of 1.09.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. The firm had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.99 earnings per share. On average, equities analysts forecast that Primerica will post 17.94 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This is an increase from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a yield of 1.39%. Primerica’s dividend payout ratio is presently 21.91%.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the sale, the president now directly owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares of the company’s stock, valued at approximately $3,846,081.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the transaction, the president now directly owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,500 shares of company stock worth $1,657,015. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Large investors have recently made changes to their positions in the stock. Burgundy Asset Management Ltd. raised its position in shares of Primerica by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock valued at $292,688,000 after purchasing an additional 17,095 shares during the period. Millennium Management LLC grew its position in Primerica by 30,726.7% during the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after buying an additional 678,752 shares in the last quarter. Lyrical Asset Management LP grew its position in Primerica by 1.5% during the fourth quarter. Lyrical Asset Management LP now owns 663,783 shares of the financial services provider’s stock worth $136,580,000 after buying an additional 9,923 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Primerica by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock valued at $150,880,000 after purchasing an additional 21,836 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Primerica by 4.2% in the 4th quarter. Westfield Capital Management Co. LP now owns 229,084 shares of the financial services provider’s stock valued at $47,136,000 after purchasing an additional 9,198 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

About Primerica

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.