Primerica (NYSE:PRI) Given New $243.00 Price Target at Morgan Stanley

Primerica (NYSE:PRIFree Report) had its price objective reduced by Morgan Stanley from $245.00 to $243.00 in a report released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on PRI. StockNews.com cut shares of Primerica from a buy rating to a hold rating in a research report on Tuesday, May 7th. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $255.00 to $260.00 and gave the stock a market perform rating in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group upped their price objective on shares of Primerica from $235.00 to $236.00 and gave the stock a hold rating in a research report on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $253.50.

Check Out Our Latest Stock Report on Primerica

Primerica Stock Up 0.8 %

Shares of Primerica stock opened at $235.14 on Wednesday. The company has a 50-day simple moving average of $227.85 and a two-hundred day simple moving average of $230.83. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 14.31 and a beta of 1.09. Primerica has a twelve month low of $184.76 and a twelve month high of $256.56.

Primerica (NYSE:PRIGet Free Report) last issued its earnings results on Monday, May 6th. The financial services provider reported $3.91 EPS for the quarter, missing the consensus estimate of $4.12 by ($0.21). The firm had revenue of $742.83 million during the quarter, compared to analyst estimates of $740.57 million. Primerica had a net margin of 20.44% and a return on equity of 27.35%. Primerica’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.49 earnings per share. On average, sell-side analysts anticipate that Primerica will post 17.66 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Monday, May 20th. Primerica’s payout ratio is 18.26%.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $222.76, for a total transaction of $668,280.00. Following the sale, the chief executive officer now directly owns 48,322 shares of the company’s stock, valued at approximately $10,764,208.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $227.44, for a total value of $341,160.00. Following the sale, the president now directly owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $222.76, for a total transaction of $668,280.00. Following the completion of the sale, the chief executive officer now directly owns 48,322 shares in the company, valued at $10,764,208.72. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PRI. AQR Capital Management LLC boosted its stake in Primerica by 61.4% during the third quarter. AQR Capital Management LLC now owns 22,123 shares of the financial services provider’s stock worth $4,292,000 after acquiring an additional 8,412 shares in the last quarter. American Century Companies Inc. boosted its stake in Primerica by 10.1% during the third quarter. American Century Companies Inc. now owns 68,243 shares of the financial services provider’s stock worth $13,240,000 after acquiring an additional 6,274 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Primerica by 22.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 2,648 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 490 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Primerica by 89.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 12,640 shares of the financial services provider’s stock worth $2,452,000 after acquiring an additional 5,979 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its stake in Primerica by 121.9% during the fourth quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 128 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Company Profile

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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.

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