Primerica (NYSE:PRI) Sets New 1-Year High – Time to Buy?

Primerica, Inc. (NYSE:PRI)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $299.69 and last traded at $299.32, with a volume of 147130 shares changing hands. The stock had previously closed at $297.06.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Primerica has an average rating of “Hold” and an average price target of $297.80.

Primerica Stock Performance

The company has a 50 day simple moving average of $278.48 and a 200 day simple moving average of $266.65. The company has a market capitalization of $9.35 billion, a PE ratio of 12.57 and a beta of 0.88.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, beating the consensus estimate of $5.45 by $0.51. The business had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $5.02 earnings per share. As a group, equities research analysts anticipate that Primerica, Inc. will post 24.51 EPS for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were issued a $1.20 dividend. The ex-dividend date was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. Primerica’s dividend payout ratio (DPR) is presently 20.13%.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 1,500 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the sale, the chief executive officer owned 33,696 shares of the company’s stock, valued at $9,451,391.04. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the transaction, the president directly owned 9,811 shares in the company, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SJS Investment Consulting Inc. increased its holdings in shares of Primerica by 176.2% in the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 74 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Primerica during the fourth quarter worth $30,000. Root Financial Partners LLC boosted its stake in Primerica by 52.6% during the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after buying an additional 61 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Primerica by 68.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after buying an additional 73 shares in the last quarter. Finally, Steph & Co. grew its holdings in Primerica by 38.0% in the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock valued at $49,000 after buying an additional 54 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.