Primerica (NYSE:PRI) Receives Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of Primerica (NYSE:PRI) in a report published on Thursday,Benzinga reports. They currently have a $290.00 price objective on the financial services provider’s stock.

PRI has been the topic of a number of other reports. Morgan Stanley dropped their price target on Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. TD Cowen restated a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Finally, Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $293.60.

Primerica Stock Performance

NYSE:PRI opened at $253.28 on Thursday. Primerica has a 52 week low of $230.09 and a 52 week high of $293.58. The firm has a 50-day moving average price of $257.42 and a two-hundred day moving average price of $261.35. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 11.05 and a beta of 0.92.

Primerica (NYSE:PRI) last announced 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. The firm had revenue of $853.51 million for the quarter, compared to the consensus estimate of $839.65 million. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.03 EPS. As a group, sell-side analysts forecast that Primerica will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, February 23rd were issued a $1.20 dividend. This is a boost from Primerica’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. Primerica’s payout ratio is presently 20.93%.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total value 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 represents a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Peter W. Schneider sold 1,800 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total value of $454,284.00. Following the transaction, the president directly owned 11,611 shares of the company’s stock, valued at approximately $2,930,384.18. This trade represents a 13.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Root Financial Partners LLC purchased a new stake in Primerica in the 3rd quarter worth about $27,000. Smartleaf Asset Management LLC raised its stake in Primerica by 186.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 69 shares during the period. V Square Quantitative Management LLC purchased a new stake in Primerica during the fourth quarter valued at about $30,000. Quent Capital LLC purchased a new stake in Primerica during the third quarter valued at about $33,000. Finally, Torren Management LLC bought a new position in Primerica during the fourth quarter worth about $50,000. Institutional investors own 90.88% of the company’s stock.

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.