Primerica (NYSE:PRI) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Primerica (NYSE:PRI) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other equities research analysts also recently issued reports on PRI. Jefferies Financial Group increased their price target on Primerica from $239.00 to $249.00 and gave the stock a hold rating in a report on Thursday, July 18th. Piper Sandler began coverage on shares of Primerica in a report on Friday. They set a neutral rating and a $283.00 target price on the stock. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $255.00 to $275.00 and gave the company a market perform rating in a report on Wednesday, July 17th. Truist Financial increased their price objective on shares of Primerica from $275.00 to $300.00 and gave the stock a buy rating in a research report on Friday, August 9th. Finally, Morgan Stanley upped their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an equal weight rating in a research note on Monday, August 19th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Primerica presently has an average rating of Hold and a consensus target price of $275.20.

Primerica Price Performance

Primerica stock opened at $263.23 on Friday. Primerica has a fifty-two week low of $184.76 and a fifty-two week high of $265.27. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 16.02 and a beta of 1.09. The company’s 50 day simple moving average is $248.10 and its 200 day simple moving average is $238.95.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The company had revenue of $803.38 million during the quarter, compared to analyst estimates of $748.88 million. During the same quarter in the previous year, the business earned $3.99 EPS. The firm’s revenue was up 16.7% on a year-over-year basis. As a group, analysts predict that Primerica will post 17.92 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.75. Primerica’s payout ratio is currently 21.91%.

Insider Activity at Primerica

In other news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the transaction, the president now directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction that occurred on 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 owns 10,259 shares in the company, valued at approximately $2,678,727.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the transaction, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,500 shares of company stock valued at $1,817,595. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

A number of institutional investors and hedge funds have recently modified their holdings of the company. Burgundy Asset Management Ltd. increased its position in 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 worth $292,688,000 after buying an additional 17,095 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Primerica by 30,726.7% during the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after acquiring an additional 678,752 shares during the period. Lyrical Asset Management LP increased its holdings in shares of Primerica by 1.5% during the 4th quarter. Lyrical Asset Management LP now owns 663,783 shares of the financial services provider’s stock worth $136,580,000 after acquiring an additional 9,923 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Primerica by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock valued at $150,880,000 after acquiring an additional 21,836 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in Primerica by 4.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 229,084 shares of the financial services provider’s stock valued at $47,136,000 after purchasing an additional 9,198 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

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.