Primerica (NYSE:PRI) PT Raised to $250.00 at Morgan Stanley

Primerica (NYSE:PRI) had its price target raised by Morgan Stanley from $245.00 to $250.00 in a report published on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on PRI. StockNews.com raised Primerica from a hold rating to a buy rating in a research report on Thursday, March 7th. Raymond James cut Primerica from a strong-buy rating to a market perform rating in a research report on Monday, February 12th. Truist Financial increased their price objective on Primerica from $260.00 to $275.00 and gave the company a buy rating in a research report on Thursday, February 15th. Finally, Keefe, Bruyette & Woods increased their price objective on Primerica from $255.00 to $260.00 and gave the company a market perform rating in a research report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Primerica currently has an average rating of Hold and an average target price of $245.50.

Primerica Stock Down 4.1 %

Shares of PRI stock opened at $213.04 on Monday. Primerica has a 12 month low of $173.00 and a 12 month high of $256.56. The business’s 50 day moving average is $244.98 and its two-hundred day moving average is $221.64. The company has a market cap of $7.39 billion, a PE ratio of 13.42 and a beta of 1.06.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, February 13th. The financial services provider reported $4.25 EPS for the quarter, missing the consensus estimate of $4.27 by ($0.02). Primerica had a net margin of 20.37% and a return on equity of 27.83%. The company had revenue of $726.34 million for the quarter, compared to analyst estimates of $723.64 million. During the same quarter last year, the business earned $3.49 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities analysts expect that Primerica will post 17.76 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were given a $0.75 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 annualized dividend and a yield of 1.41%. The ex-dividend date was Tuesday, February 20th. Primerica’s dividend payout ratio (DPR) is 18.89%.

Insider Buying and Selling

In related news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the completion of the transaction, the president now directly owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the completion of the transaction, the president now directly owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction on Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the transaction, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at $829,307.97. The disclosure for this sale can be found here. Insiders sold a total of 6,708 shares of company stock valued at $1,648,677 over the last ninety days. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Primerica by 0.6% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,907,117 shares of the financial services provider’s stock valued at $672,962,000 after acquiring an additional 24,125 shares during the period. BlackRock Inc. lifted its holdings in shares of Primerica by 0.4% during the first quarter. BlackRock Inc. now owns 3,277,573 shares of the financial services provider’s stock valued at $564,529,000 after acquiring an additional 12,990 shares during the period. Moneta Group Investment Advisors LLC bought a new position in shares of Primerica during the fourth quarter valued at $210,472,000. State Street Corp lifted its holdings in shares of Primerica by 0.6% during the second quarter. State Street Corp now owns 1,112,658 shares of the financial services provider’s stock valued at $133,174,000 after acquiring an additional 6,390 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Primerica by 27.4% during the fourth quarter. Victory Capital Management Inc. now owns 811,888 shares of the financial services provider’s stock valued at $115,142,000 after acquiring an additional 174,822 shares during the period. 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.