Primerica, Inc. (NYSE:PRI) Receives Consensus Recommendation of “Hold” from Brokerages

Primerica, Inc. (NYSE:PRI) has been assigned an average recommendation of “Hold” from the eight brokerages that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $308.6667.

Several research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Jefferies Financial Group lifted their price objective on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Finally, TD Cowen raised their price target on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday.

Primerica Stock Performance

Shares of Primerica stock opened at $314.13 on Friday. The stock has a market capitalization of $9.79 billion, a PE ratio of 13.17 and a beta of 0.88. Primerica has a 52 week low of $230.09 and a 52 week high of $317.69. The stock has a 50 day moving average price of $286.72 and a two-hundred day moving average price of $270.74.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million for the quarter, compared to analyst estimates of $855.36 million. During the same period in the prior year, the firm earned $5.02 earnings per share. Primerica’s revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts forecast that Primerica will post 24.6 EPS for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were paid a $1.20 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.5%. Primerica’s dividend payout ratio is 20.13%.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 1,500 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the sale, the chief executive officer owned 33,696 shares in the company, valued at approximately $9,451,391.04. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the completion of the sale, the president directly owned 9,811 shares of the company’s stock, valued at $2,743,548.04. The trade was a 15.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by company insiders.

Institutional Trading of Primerica

Institutional investors have recently made changes to their positions in the company. Ausbil Investment Management Ltd lifted its position in shares of Primerica by 166.8% during the second quarter. Ausbil Investment Management Ltd now owns 8,269 shares of the financial services provider’s stock valued at $2,411,000 after purchasing an additional 5,170 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Primerica by 3.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 8,817 shares of the financial services provider’s stock valued at $2,506,000 after buying an additional 280 shares during the last quarter. Vista Investment Partners LLC increased its stake in Primerica by 41.8% in the 2nd quarter. Vista Investment Partners LLC now owns 15,412 shares of the financial services provider’s stock valued at $4,381,000 after buying an additional 4,542 shares during the last quarter. Trust Point Inc. bought a new position in shares of Primerica during the 2nd quarter worth approximately $207,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its position in shares of Primerica by 14.4% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 4,988 shares of the financial services provider’s stock worth $1,418,000 after buying an additional 628 shares in the last quarter. 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.