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

Shares of Primerica, Inc. (NYSE:PRI) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $300.00.

A number of equities analysts have weighed in on the stock. Morgan Stanley set a $292.00 target price on shares of Primerica in a research note on Monday, December 15th. Keefe, Bruyette & Woods cut their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Zacks Research upgraded Primerica from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Finally, TD Cowen reissued a “buy” rating on shares of Primerica in a report on Wednesday, January 28th.

Primerica Trading Down 0.0%

Shares of Primerica stock opened at $252.96 on Wednesday. Primerica has a 12 month low of $230.09 and a 12 month high of $296.00. The firm has a market capitalization of $8.07 billion, a P/E ratio of 11.03 and a beta of 0.91. The business has a fifty day simple moving average of $260.87 and a two-hundred day simple moving average of $263.32.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share for the quarter, topping analysts’ consensus estimates of $5.69 by $0.44. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The firm had revenue of $853.51 million for the quarter, compared to the consensus estimate of $839.65 million. During the same period in the prior year, the firm earned $5.03 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. Analysts predict that Primerica will post 20.6 earnings per share for the current year.

Primerica announced that its Board of Directors has approved a stock buyback plan on Wednesday, November 19th that permits the company to buyback $475.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 5.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, February 23rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, February 23rd. This is a positive change from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio (DPR) is presently 20.93%.

Insider Transactions at Primerica

In other Primerica news, Director Joel M. Babbit sold 700 shares of Primerica stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total value of $178,500.00. Following the completion of the transaction, the director directly owned 8,400 shares of the company’s stock, valued at approximately $2,142,000. The trade was a 7.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total transaction of $641,025.00. Following the sale, the chief executive officer owned 27,392 shares in the company, valued at approximately $7,023,582.72. The trade was a 8.36% decrease in their position. The SEC filing for this sale provides additional information. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Primerica

A number of institutional investors and hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. boosted its stake in shares of Primerica by 18.1% during the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 39 shares during the last quarter. Olympiad Research LP raised its holdings in Primerica by 3.9% in the 2nd quarter. Olympiad Research LP now owns 1,061 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 40 shares during the period. Seeds Investor LLC lifted its position in Primerica by 3.2% during the fourth quarter. Seeds Investor LLC now owns 1,374 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 42 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in Primerica by 1.2% during the second quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 45 shares in the last quarter. Finally, SkyView Investment Advisors LLC grew its holdings in Primerica by 0.7% during the fourth quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider’s stock valued at $1,794,000 after purchasing an additional 46 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.