Primerica, Inc. (NYSE:PRI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Primerica, Inc. (NYSE:PRI) has been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $314.8571.

Several research firms have weighed in on PRI. Piper Sandler set a $292.00 price target on shares of Primerica and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “buy (b)” rating on shares of Primerica in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Monday, August 11th. Jefferies Financial Group decreased their price objective on shares of Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a research report on Monday, August 11th. Finally, Morgan Stanley decreased their price objective on shares of Primerica from $308.00 to $306.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the completion of the transaction, the chief executive officer directly owned 36,392 shares of the company’s stock, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Primerica

Institutional investors and hedge funds have recently made changes to their positions in the business. Assetmark Inc. grew its stake in shares of Primerica by 17.1% in the 1st quarter. Assetmark Inc. now owns 1,778 shares of the financial services provider’s stock worth $506,000 after buying an additional 260 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Primerica by 21.7% in the 1st quarter. Cerity Partners LLC now owns 5,201 shares of the financial services provider’s stock worth $1,480,000 after buying an additional 927 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in shares of Primerica in the 1st quarter worth $2,683,000. New Age Alpha Advisors LLC purchased a new position in shares of Primerica in the 1st quarter worth $1,922,000. Finally, Public Sector Pension Investment Board purchased a new position in shares of Primerica in the 1st quarter worth $9,234,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Trading Down 0.5%

PRI opened at $265.36 on Thursday. Primerica has a 1-year low of $230.98 and a 1-year high of $307.91. The company has a market capitalization of $8.59 billion, a PE ratio of 13.11 and a beta of 0.97. The firm’s 50 day simple moving average is $270.40 and its two-hundred day simple moving average is $266.54.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.28. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The business had revenue of $796.02 million for the quarter, compared to the consensus estimate of $790.99 million. During the same period last year, the firm earned $4.71 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. Equities analysts forecast that Primerica will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 22nd were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 22nd. Primerica’s dividend payout ratio (DPR) is presently 20.55%.

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.