Shares of Primerica, Inc. (NYSE:PRI) have earned an average recommendation of “Hold” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $84.67.
Several research firms have commented on PRI. Wells Fargo & Company reaffirmed a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. BidaskClub raised Primerica from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research cut Primerica from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $83.00 price target on shares of Primerica in a report on Friday, June 23rd.
Shares of Primerica (NYSE:PRI) traded down 0.13% on Friday, hitting $77.35. The stock had a trading volume of 157,008 shares. The firm’s 50-day moving average is $77.51 and its 200 day moving average is $78.63. The stock has a market cap of $3.47 billion, a P/E ratio of 15.76 and a beta of 1.14. Primerica has a 1-year low of $52.50 and a 1-year high of $86.45.
Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $1.35 by $0.01. The firm had revenue of $413.70 million during the quarter, compared to analysts’ expectations of $410.97 million. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 EPS. Equities analysts forecast that Primerica will post $5.22 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This is a boost from Primerica’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.03%. Primerica’s dividend payout ratio is presently 16.33%.
In other news, President Peter W. Schneider sold 1,301 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $76.92, for a total value of $100,072.92. Following the completion of the transaction, the president now directly owns 28,138 shares of the company’s stock, valued at approximately $2,164,374.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Alison S. Rand sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $76.50, for a total value of $153,000.00. Following the completion of the transaction, the vice president now directly owns 35,385 shares of the company’s stock, valued at $2,706,952.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,301 shares of company stock valued at $495,113. 0.86% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Mountain Capital Investment Advisors Inc acquired a new position in shares of Primerica in the 2nd quarter worth approximately $125,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Primerica by 13.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock worth $158,000 after buying an additional 242 shares in the last quarter. Flinton Capital Management LLC raised its holdings in shares of Primerica by 69.5% in the 2nd quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock worth $169,000 after buying an additional 912 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Primerica by 68.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock worth $192,000 after buying an additional 1,030 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. acquired a new position in shares of Primerica in the 2nd quarter worth approximately $211,000. 94.82% of the stock is owned by institutional investors and hedge funds.
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Primerica Company Profile
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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