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

Shares of Primerica, Inc. (NYSE:PRI) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $275.20.

A number of research firms have issued reports on PRI. Morgan Stanley lifted their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Piper Sandler assumed coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. Finally, Truist Financial boosted their price target on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the sale, the president now directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the sale, the president now directly owns 10,259 shares in the company, valued at $2,678,727.49. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the sale, the director now owns 15,151 shares in the company, valued at $3,846,081.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,500 shares of company stock worth $1,657,015. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Burgundy Asset Management Ltd. increased its position in shares of Primerica by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock valued at $292,688,000 after buying an additional 17,095 shares during the period. Millennium Management LLC grew its holdings in shares of Primerica by 30,726.7% during the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after purchasing an additional 678,752 shares in the last quarter. Lyrical Asset Management LP grew its holdings in shares of Primerica by 1.5% during the fourth 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. Dimensional Fund Advisors LP grew its holdings in shares of Primerica by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock worth $150,880,000 after purchasing an additional 21,836 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Primerica by 4.2% during the fourth 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. 90.88% of the stock is currently owned by institutional investors.

Primerica Price Performance

PRI opened at $263.34 on Wednesday. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 16.03 and a beta of 1.09. The firm’s fifty day moving average price is $254.89 and its two-hundred day moving average price is $240.15. Primerica has a 1 year low of $184.76 and a 1 year high of $265.67.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. The firm had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.99 EPS. As a group, equities analysts anticipate that Primerica will post 17.94 EPS for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were paid a $0.90 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Wednesday, August 21st. Primerica’s payout ratio is currently 21.91%.

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.