Primerica, Inc. (NYSE:PRI) Given Average Rating of “Moderate Buy” by Brokerages

Primerica, Inc. (NYSE:PRI) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $300.00.

Several analysts recently commented on the stock. TD Cowen reiterated a “buy” rating on shares of Primerica in a research note on Wednesday. Morgan Stanley set a $292.00 price target on shares of Primerica in a research report on Monday, December 15th. Keefe, Bruyette & Woods lowered their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings downgraded Primerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, January 21st. Finally, Piper Sandler set a $292.00 target price on Primerica and gave the stock a “neutral” rating in a research report on Tuesday, October 7th.

Primerica Price Performance

Primerica stock opened at $262.81 on Friday. The stock’s 50 day moving average price is $259.35 and its 200 day moving average price is $263.74. Primerica has a 1-year low of $230.98 and a 1-year high of $298.75. The company has a market cap of $8.39 billion, a PE ratio of 12.08 and a beta of 0.90.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.52 by $0.81. The firm had revenue of $838.88 million during the quarter, compared to analysts’ expectations of $817.81 million. Primerica had a return on equity of 31.75% and a net margin of 22.36%.Primerica’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.83 earnings per share. On average, equities research analysts anticipate that Primerica will post 20.6 EPS for the current fiscal year.

Primerica declared that its Board of Directors has initiated a share repurchase program on Wednesday, November 19th that allows the company to buyback $475.00 million in shares. This buyback authorization allows the financial services provider to buy up to 5.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 21st were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, November 21st. Primerica’s dividend payout ratio (DPR) is 19.12%.

Insider Activity

In other news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $259.65, for a total transaction of $649,125.00. Following the completion of the transaction, the chief executive officer directly owned 33,892 shares of the company’s stock, valued at $8,800,057.80. This trade represents a 6.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joel M. Babbit sold 700 shares of the company’s stock in a transaction that occurred on 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 sale, the director directly owned 8,400 shares in the company, valued at approximately $2,142,000. The trade was a 7.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 5,200 shares of company stock worth $1,338,225 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Institutional Trading of Primerica

A number of hedge funds have recently added to or reduced their stakes in PRI. Atria Investments Inc grew its holdings in Primerica by 27.6% in the second quarter. Atria Investments Inc now owns 12,650 shares of the financial services provider’s stock valued at $3,462,000 after purchasing an additional 2,740 shares during the period. Nordea Investment Management AB purchased a new stake in shares of Primerica during the 3rd quarter valued at $51,004,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of Primerica by 115.1% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 11,774 shares of the financial services provider’s stock worth $3,268,000 after buying an additional 6,300 shares during the last quarter. Aviva PLC purchased a new position in shares of Primerica in the 2nd quarter worth $514,000. Finally, Moran Wealth Management LLC acquired a new position in Primerica in the third quarter valued at $2,121,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Company Profile

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.