Primerica (NYSE:PRI) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Primerica (NYSE:PRI) from a buy rating to a hold rating in a report issued on Tuesday.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley increased their target price on Primerica from $245.00 to $250.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $255.00 to $260.00 and gave the company a market perform rating in a report on Wednesday, April 10th. Truist Financial upped their target price on Primerica from $260.00 to $275.00 and gave the stock a buy rating in a report on Thursday, February 15th. Finally, Raymond James lowered shares of Primerica from a strong-buy rating to a market perform rating in a research note on Monday, February 12th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Primerica currently has a consensus rating of Hold and a consensus price target of $245.50.

Primerica Trading Down 1.4 %

NYSE:PRI opened at $219.34 on Tuesday. Primerica has a 1-year low of $176.81 and a 1-year high of $256.56. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 13.81 and a beta of 1.10. The business’s 50-day moving average price is $236.60 and its two-hundred day moving average price is $223.48.

Primerica (NYSE:PRI) last issued its earnings results on Monday, May 6th. The financial services provider reported $3.91 EPS for the quarter, missing the consensus estimate of $4.12 by ($0.21). Primerica had a net margin of 20.37% and a return on equity of 27.83%. The firm had revenue of $742.83 million during the quarter, compared to the consensus estimate of $740.57 million. During the same period in the previous year, the company posted $3.49 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts predict that Primerica will post 17.78 earnings per share for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, May 20th. Primerica’s dividend payout ratio is presently 18.89%.

Insider Activity

In other news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total transaction of $58,455.54. Following the completion of the sale, the insider now owns 100 shares of the company’s stock, valued at $24,981. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the transaction, the insider now directly owns 100 shares of the company’s stock, valued at approximately $24,981. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Jr. Addison sold 1,215 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total value of $302,535.00. Following the sale, the director now directly owns 16,467 shares in the company, valued at $4,100,283. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,708 shares of company stock valued at $1,648,677. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On Primerica

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRI. Invesco Ltd. lifted its position in shares of Primerica by 110.6% during the 3rd quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock worth $87,200,000 after buying an additional 236,051 shares during the last quarter. Norges Bank acquired a new position in Primerica during the 4th quarter worth approximately $31,194,000. Fuller & Thaler Asset Management Inc. boosted its position in Primerica by 86.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock valued at $23,010,000 after buying an additional 55,076 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Primerica by 47.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock worth $25,840,000 after buying an additional 40,647 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new position in shares of Primerica during the third quarter worth $6,098,000. 90.88% of the stock is currently owned by institutional investors.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.