Primerica, Inc. (PRI) – What Are Investment Firms Thinking About This Stock?

Primerica, Inc. (NYSE:PRI) has been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $318.80.

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a report on Monday, August 24th. Weiss Ratings downgraded shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Truist Financial reiterated a “hold” rating and issued a $320.00 target price (down from $370.00) on shares of Primerica in a report on Thursday, August 27th. Jefferies Financial Group lifted their price target on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $335.00 to $330.00 and set a “market perform” rating on the stock in a research report on Friday, October 9th.

Primerica Trading Up 0.3%

Shares of PRI opened at $278.09 on Thursday. The stock has a market cap of $8.56 billion, a P/E ratio of 11.17 and a beta of 0.88. Primerica has a 1 year low of $230.09 and a 1 year high of $327.28. The stock’s 50-day moving average price is $291.09 and its two-hundred day moving average price is $285.81.

Primerica (NYSE:PRI) last announced its quarterly 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. The company had revenue of $865.07 million during the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%. Primerica’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $5.46 EPS. As a group, equities analysts forecast that Primerica will post 25.23 EPS for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 21st were given a $1.20 dividend. The ex-dividend date was Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Primerica’s dividend payout ratio is currently 19.28%.

Insider Buying and Selling

In other Primerica news, President Peter Schneider sold 1,800 shares of Primerica stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $312.65, for a total transaction of $562,770.00. Following the transaction, the president directly owned 8,011 shares in the company, valued at approximately $2,504,639.15. The trade was a 18.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Cottle sold 279 shares of Primerica stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total value of $87,502.77. Following the transaction, the director owned 3,549 shares in the company, valued at approximately $1,113,072.87. This represents a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,579 shares of company stock valued at $1,130,573. 0.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Primerica

Several institutional investors have recently modified their holdings of PRI. BlackRock Inc. bought a new stake in Primerica during the 2nd quarter worth about $848,161,000. Bamco Inc. NY acquired a new position in shares of Primerica during the 2nd quarter worth about $190,827,000. Bank of New York Mellon Corp bought a new position in shares of Primerica in the 2nd quarter valued at about $79,044,000. Academy Capital Management bought a new position in shares of Primerica in the 2nd quarter valued at about $36,879,000. Finally, Bank of America Corp DE bought a new position in shares of Primerica in the 2nd quarter valued at about $26,769,000. Institutional investors own 90.88% of the company’s stock.

About Primerica

Primerica, Inc is a financial services company that helps middle-income families in the United States and Canada address their insurance, investment and financial planning needs. The company primarily distributes its products through a network of independent representatives who provide educational and financial guidance to clients.

Primerica’s offerings include term life insurance, investment and savings products, retirement solutions, annuities and other financial services. Through its affiliated businesses and representatives, the company also provides access to products and services designed to help clients manage debt and pursue long-term financial goals.

The company was founded in 1977 as A.L.