Analysts Set Primerica, Inc. (NYSE:PRI) Target Price at $309.86

Shares of Primerica, Inc. (NYSE:PRI) have earned an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $309.86.

A number of analysts recently weighed in on the stock. BMO Capital Markets started coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target for the company. Piper Sandler decreased their target price on 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 target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley decreased their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th.

Primerica Price Performance

Primerica stock opened at $287.94 on Wednesday. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 20.94 and a beta of 1.12. Primerica has a 12 month low of $184.76 and a 12 month high of $307.91. The stock’s 50-day moving average is $285.15 and its 200-day moving average is $280.19.

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

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is 30.25%.

Insider Activity at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock valued at $1,476,575 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

A number of institutional investors have recently made changes to their positions in the company. Burgundy Asset Management Ltd. raised its stake in Primerica by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider’s stock worth $349,717,000 after acquiring an additional 21,208 shares during the period. Geode Capital Management LLC grew its holdings in shares of Primerica by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock valued at $211,691,000 after purchasing an additional 82,921 shares during the last quarter. Northern Trust Corp raised its position in shares of Primerica by 15.6% during the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider’s stock worth $94,194,000 after purchasing an additional 46,935 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Primerica by 1.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 230,736 shares of the financial services provider’s stock worth $62,626,000 after purchasing an additional 2,905 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in Primerica by 0.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 159,774 shares of the financial services provider’s stock valued at $43,366,000 after purchasing an additional 1,484 shares during the period. 90.88% of the stock is currently owned by institutional investors.

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.