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

Shares of Primerica, Inc. (NYSE:PRI) have received an average recommendation of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $245.50.

Several analysts have issued reports on the company. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Truist Financial boosted their price objective on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Morgan Stanley boosted their price objective on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the transaction, the president now directly owns 13,259 shares in the company, valued at approximately $3,227,373.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the transaction, the insider now directly owns 100 shares in the company, valued at approximately $24,981. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the completion of the transaction, the president now owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The disclosure for this sale can be found here. Insiders have sold 6,708 shares of company stock worth $1,648,677 in the last ninety days. 0.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Primerica

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lyrical Asset Management LP boosted its holdings in shares of Primerica by 1.5% in the 4th quarter. Lyrical Asset Management LP now owns 663,783 shares of the financial services provider’s stock worth $136,580,000 after purchasing an additional 9,923 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Primerica by 110.6% in the 3rd quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock worth $87,200,000 after purchasing an additional 236,051 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Primerica by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,340 shares of the financial services provider’s stock worth $64,477,000 after purchasing an additional 3,066 shares in the last quarter. 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 worth $47,136,000 after purchasing an additional 9,198 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Primerica in the 4th quarter worth about $31,194,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Price Performance

Shares of PRI opened at $218.62 on Friday. The firm has a market cap of $7.59 billion, a PE ratio of 13.77 and a beta of 1.06. The stock’s fifty day moving average price is $241.50 and its two-hundred day moving average price is $222.54. Primerica has a 1 year low of $173.00 and a 1 year high of $256.56.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.27 by ($0.02). The firm had revenue of $726.34 million during the quarter, compared to the consensus estimate of $723.64 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.49 earnings per share. Sell-side analysts anticipate that Primerica will post 17.78 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Wednesday, February 21st were paid a $0.75 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Tuesday, February 20th. Primerica’s dividend payout ratio is currently 18.89%.

Primerica Company Profile

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.