StockNews.com Lowers Primerica (NYSE:PRI) to Hold

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

A number of other analysts also recently weighed in on PRI. Piper Sandler began coverage on shares of Primerica in a report on Friday, August 30th. They set a neutral rating and a $283.00 price target for the company. Truist Financial upped their price objective on Primerica from $275.00 to $300.00 and gave the stock a buy rating in a research report on Friday, August 9th. Jefferies Financial Group boosted their target price on Primerica from $239.00 to $249.00 and gave the stock a hold rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods lifted 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. Finally, Morgan Stanley increased their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an equal weight rating in a research note on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $275.20.

Primerica Trading Up 0.5 %

Shares of PRI stock opened at $254.62 on Thursday. The stock has a market cap of $8.61 billion, a P/E ratio of 15.50 and a beta of 1.09. Primerica has a 1 year low of $184.76 and a 1 year high of $265.27. The stock has a 50 day simple moving average of $252.18 and a 200 day simple moving average of $239.65.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The company had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. During the same quarter last year, the business earned $3.99 earnings per share. Primerica’s revenue was up 16.7% on a year-over-year basis. Analysts forecast that Primerica will post 17.94 EPS for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were given a $0.90 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Wednesday, August 21st. Primerica’s dividend payout ratio is presently 21.91%.

Insider Transactions at Primerica

In related news, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the transaction, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the sale, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $1,657,015 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Primerica

Several hedge funds have recently added to or reduced their stakes in PRI. Sanctuary Advisors LLC bought a new position in shares of Primerica during the 2nd quarter valued at approximately $1,098,000. Dana Investment Advisors Inc. lifted its stake in Primerica by 13.1% in the second quarter. Dana Investment Advisors Inc. now owns 3,462 shares of the financial services provider’s stock valued at $819,000 after purchasing an additional 400 shares during the last quarter. Truist Financial Corp grew its holdings in Primerica by 8.5% during the second quarter. Truist Financial Corp now owns 8,004 shares of the financial services provider’s stock valued at $1,894,000 after purchasing an additional 630 shares during the period. Creative Planning increased its position in Primerica by 2.8% in the second quarter. Creative Planning now owns 6,043 shares of the financial services provider’s stock worth $1,430,000 after buying an additional 167 shares during the last quarter. Finally, Algert Global LLC raised its stake in shares of Primerica by 24.5% in the second quarter. Algert Global LLC now owns 17,818 shares of the financial services provider’s stock valued at $4,215,000 after buying an additional 3,509 shares during the period. Institutional investors own 90.88% of the company’s stock.

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.