Primerica (NYSE:PRI) Hits New 52-Week High at $268.60

Shares of Primerica, Inc. (NYSE:PRI) reached a new 52-week high during trading on Tuesday . The stock traded as high as $268.60 and last traded at $268.60, with a volume of 101 shares trading hands. The stock had previously closed at $265.15.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PRI shares. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Morgan Stanley lifted their price objective on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Jefferies Financial Group boosted their price objective on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Piper Sandler began coverage on Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price on the stock. Finally, StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Primerica presently has a consensus rating of “Hold” and a consensus price target of $275.20.

Primerica Price Performance

The stock’s fifty day moving average is $256.06 and its 200-day moving average is $240.65. The stock has a market cap of $9.16 billion, a PE ratio of 16.14 and a beta of 1.09.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The business had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. During the same quarter last year, the firm earned $3.99 EPS. The business’s revenue was up 16.7% compared to the same quarter last year. On average, sell-side analysts expect that Primerica, Inc. will post 17.94 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Wednesday, August 21st. This is a boost from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio is currently 21.91%.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. ORG Partners LLC purchased a new position in shares of Primerica during the second quarter worth about $30,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 148 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 60 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of Primerica during the second quarter worth approximately $71,000. Finally, O Dell Group LLC acquired a new stake in shares of Primerica during the fourth quarter worth $153,000. 90.88% of the stock is 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.