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

Shares of Primerica, Inc. (NYSE:PRI) have received a consensus recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $311.14.

A number of brokerages have issued reports on PRI. TD Cowen upped their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods upped their target price on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday. Truist Financial upped their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler cut their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th.

Primerica Price Performance

Shares of PRI stock opened at $273.38 on Friday. The company’s fifty day moving average price is $281.95 and its two-hundred day moving average price is $276.58. The firm has a market capitalization of $9.12 billion, a P/E ratio of 19.88 and a beta of 1.11. Primerica has a 12 month low of $184.76 and a 12 month high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly 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%. On average, sell-side analysts anticipate that Primerica will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a dividend of $1.04 per share. This is an increase from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, February 21st. Primerica’s dividend payout ratio is presently 26.18%.

Primerica declared that its Board of Directors has approved a share buyback program on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. This represents a 8.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PRI. Geode Capital Management LLC lifted its holdings 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 buying an additional 25,951 shares during the period. Barclays PLC lifted its holdings in shares of Primerica by 108.1% in the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after buying an additional 10,635 shares during the period. Sylvest Advisors LLC acquired a new stake in shares of Primerica in the fourth quarter valued at $543,000. Oak Thistle LLC lifted its holdings in shares of Primerica by 64.9% in the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock valued at $1,340,000 after buying an additional 1,943 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Primerica in the third quarter valued at $3,710,000. 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.