Primerica (NYSE:PRI) Stock Rating Upgraded by StockNews.com

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

PRI has been the subject of several other reports. Morgan Stanley raised their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an equal weight rating in a research report on Monday, August 19th. Piper Sandler began coverage on Primerica in a research report on Friday, August 30th. They set a neutral rating and a $283.00 price objective for the company. 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 research report on Wednesday, July 17th. Truist Financial boosted their price target on shares of Primerica from $275.00 to $300.00 and gave the company a buy rating in a research note on Friday, August 9th. Finally, Jefferies Financial Group lifted their target price on shares of Primerica from $239.00 to $249.00 and gave the company a hold rating in a report on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $275.20.

Primerica Stock Performance

Shares of PRI opened at $263.12 on Wednesday. The stock has a 50 day moving average price of $255.46 and a 200 day moving average price of $240.50. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 16.01 and a beta of 1.09. Primerica has a one year low of $184.76 and a one year high of $267.92.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the firm posted $3.99 earnings per share. On average, analysts predict that Primerica will post 17.94 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.37%. This is an increase from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Wednesday, August 21st. Primerica’s payout ratio is 21.91%.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the transaction, the chief executive officer now owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 sale, the president now owns 10,259 shares in the company, valued at $2,678,727.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,500 shares of company stock valued at $1,657,015. 0.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PRI. ORG Partners LLC purchased a new stake in shares of Primerica during the second quarter worth approximately $30,000. Benjamin F. Edwards & Company Inc. raised its position in Primerica by 493.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock worth $45,000 after buying an additional 148 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 60 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of Primerica in the first quarter valued at about $163,000. Finally, O Dell Group LLC acquired a new position in shares of Primerica during the fourth quarter worth about $153,000. 90.88% of the stock is currently owned by hedge funds and other 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.