Primerica, Inc. (NYSE:PRI) Receives $303.00 Consensus Target Price from Analysts

Shares of Primerica, Inc. (NYSE:PRI) have been assigned an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $304.14.

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. BMO Capital Markets assumed coverage on Primerica in a research report on Thursday. They issued a “market perform” rating and a $311.00 target price for the company. Piper Sandler dropped their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Truist Financial increased their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Primerica

Institutional investors have recently made changes to their positions in the business. Trust Point Inc. increased its position in Primerica by 25.1% during the fourth quarter. Trust Point Inc. now owns 1,923 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 386 shares during the period. Sylvest Advisors LLC bought a new position in shares of Primerica during the 4th quarter worth about $543,000. Ausbil Investment Management Ltd increased its holdings in shares of Primerica by 20.9% during the 4th quarter. Ausbil Investment Management Ltd now owns 3,030 shares of the financial services provider’s stock worth $837,000 after purchasing an additional 523 shares during the period. Ibex Wealth Advisors acquired a new position in shares of Primerica during the fourth quarter valued at about $305,000. Finally, R Squared Ltd bought a new stake in shares of Primerica in the fourth quarter valued at about $445,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Performance

Shares of NYSE:PRI opened at $289.80 on Tuesday. The company has a market capitalization of $9.67 billion, a PE ratio of 22.14 and a beta of 1.11. The stock has a fifty day moving average of $285.15 and a 200-day moving average of $271.44. Primerica has a one year low of $184.76 and a one year high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. During the same quarter last year, the business posted $4.28 EPS. Primerica’s revenue was up 11.0% on a year-over-year basis. As a group, research analysts forecast that Primerica will post 19.79 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Thursday, November 21st. Primerica’s dividend payout ratio is presently 27.50%.

Primerica announced that its Board of Directors has authorized a share repurchase program on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.