Primerica, Inc. (NYSE:PRI) Given Average Recommendation of “Hold” by Analysts

Primerica, Inc. (NYSE:PRI) has been assigned an average rating of “Hold” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $298.60.

A number of brokerages recently commented on PRI. Morgan Stanley decreased their target price on Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th.

Insider Buying and Selling

In other news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total transaction of $454,284.00. Following the sale, the president directly owned 11,611 shares in the company, valued at $2,930,384.18. This trade represents a 13.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction 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 transaction, the chief executive officer owned 27,392 shares in the company, valued at approximately $7,023,582.72. This trade represents a 8.36% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Primerica

A number of institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC bought a new position in shares of Primerica in the third quarter worth about $27,000. Smartleaf Asset Management LLC raised its stake in Primerica by 186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 69 shares during the period. V Square Quantitative Management LLC bought a new stake in Primerica during the 4th quarter valued at approximately $30,000. Quent Capital LLC purchased a new position in Primerica in the 3rd quarter worth approximately $33,000. Finally, Torren Management LLC bought a new position in Primerica in the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Down 0.5%

Primerica stock opened at $245.85 on Friday. Primerica has a 52-week low of $230.09 and a 52-week high of $296.00. The company has a market cap of $7.78 billion, a P/E ratio of 10.72 and a beta of 0.92. The business has a 50-day simple moving average of $258.52 and a two-hundred day simple moving average of $261.85.

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

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, February 23rd were issued a dividend of $1.20 per share. This is an increase from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, February 23rd. Primerica’s payout ratio is presently 20.93%.

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.