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 seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $281.67.

A number of brokerages have weighed in on PRI. Jefferies Financial Group upped their price target on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Truist Financial increased their target price 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. Piper Sandler began coverage on shares of Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. 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 report on Monday, August 19th. Finally, TD Cowen initiated coverage on shares of Primerica in a research note on Wednesday, October 9th. They issued a “buy” rating and a $314.00 target price for the company.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the sale, the president now directly owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,678,727.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,500 shares of company stock valued at $1,657,015. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRI. Millennium Management LLC grew its position in Primerica by 30,726.7% in the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock valued at $161,102,000 after purchasing an additional 678,752 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in Primerica by 66.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock valued at $23,601,000 after buying an additional 39,761 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Primerica by 2,986.9% in the second quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider’s stock valued at $7,595,000 after acquiring an additional 31,064 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Primerica during the second quarter worth approximately $71,000. Finally, Dimensional Fund Advisors LP raised its holdings 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 in the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

Shares of Primerica stock opened at $279.23 on Friday. The firm has a market cap of $9.45 billion, a P/E ratio of 22.36 and a beta of 1.09. The firm’s 50-day simple moving average is $263.23 and its 200-day simple moving average is $243.02. Primerica has a twelve month low of $184.76 and a twelve month high of $284.37.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating 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 the consensus estimate of $748.88 million. During the same period in the previous year, the business earned $3.99 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. On average, equities analysts forecast that Primerica will post 18.13 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were paid a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This is an increase from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.29%. Primerica’s payout ratio is currently 28.82%.

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.