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

Shares of Primerica, Inc. (NYSE:PRIGet Rating) have been assigned an average rating of “Hold” from the nine research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $164.83.

A number of analysts have weighed in on the stock. William Blair restated an “outperform” rating on shares of Primerica in a research report on Tuesday, February 15th. Credit Suisse Group cut their price target on shares of Primerica from $199.00 to $187.00 and set an “outperform” rating on the stock in a report on Tuesday, March 1st. Morgan Stanley downgraded Primerica from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $153.00 to $148.00 in a report on Thursday, May 19th. StockNews.com started coverage on Primerica in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Truist Financial reduced their price target on Primerica from $197.00 to $187.00 in a research report on Wednesday, February 16th.

Shares of Primerica stock opened at $121.73 on Thursday. Primerica has a fifty-two week low of $113.99 and a fifty-two week high of $179.51. The firm has a market capitalization of $4.74 billion, a P/E ratio of 13.57 and a beta of 1.35. The company’s 50 day moving average price is $130.36 and its two-hundred day moving average price is $141.76.

Primerica (NYSE:PRIGet Rating) last issued its earnings results on Thursday, May 5th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.68). Primerica had a net margin of 12.92% and a return on equity of 22.07%. The company had revenue of $691.30 million during the quarter, compared to analyst estimates of $731.25 million. During the same quarter in the prior year, the business earned $2.44 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Research analysts expect that Primerica will post 12.1 earnings per share for the current year.

Primerica announced that its Board of Directors has authorized a stock repurchase plan on Monday, February 14th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 14th. Stockholders of record on Friday, May 20th will be paid a $0.55 dividend. The ex-dividend date is Thursday, May 19th. This represents a $2.20 annualized dividend and a dividend yield of 1.81%. Primerica’s payout ratio is 24.53%.

In related news, President Peter W. Schneider sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $130.49, for a total transaction of $456,715.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glenn J. Williams sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $119.32, for a total value of $477,280.00. Following the sale, the chief executive officer now directly owns 62,215 shares of the company’s stock, valued at approximately $7,423,493.80. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Aurora Investment Counsel boosted its holdings in Primerica by 1.0% in the first quarter. Aurora Investment Counsel now owns 9,019 shares of the financial services provider’s stock worth $1,234,000 after acquiring an additional 93 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Primerica by 35.7% in the first quarter. BNP Paribas Arbitrage SA now owns 13,103 shares of the financial services provider’s stock worth $1,793,000 after acquiring an additional 3,445 shares in the last quarter. Walleye Capital LLC bought a new position in Primerica in the first quarter worth approximately $301,000. KB Financial Partners LLC boosted its holdings in Primerica by 21.0% in the first quarter. KB Financial Partners LLC now owns 4,280 shares of the financial services provider’s stock worth $586,000 after acquiring an additional 744 shares in the last quarter. Finally, Penn Capital Management Company LLC boosted its holdings in Primerica by 14.8% in the first quarter. Penn Capital Management Company LLC now owns 16,405 shares of the financial services provider’s stock worth $2,245,000 after acquiring an additional 2,109 shares in the last quarter. Institutional investors and hedge funds own 90.90% of the company’s stock.

Primerica Company Profile (Get Rating)

Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.

Further Reading

Analyst Recommendations for Primerica (NYSE:PRI)

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