Primerica, Inc. (NYSE:PRI) Given Average Rating of “Hold” by Brokerages

Primerica, Inc. (NYSE:PRI) has been assigned a consensus recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $314.8333.

A number of analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Morgan Stanley raised their target price on shares of Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a research note on Monday. TD Cowen lifted their target price on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings cut shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th.

Insider Activity at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $312.65, for a total transaction of $562,770.00. Following the completion of the transaction, the president directly owned 8,011 shares in the company, valued at $2,504,639.15. The trade was a 18.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $320.20, for a total value of $480,300.00. Following the completion of the sale, the chief executive officer directly owned 32,196 shares of the company’s stock, valued at $10,309,159.20. This represents a 4.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,079 shares of company stock worth $1,551,308 in the last 90 days. 0.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Primerica

Several large investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its holdings in shares of Primerica by 27,655.6% during the 2nd quarter. California State Teachers Retirement System now owns 10,341,470 shares of the financial services provider’s stock worth $2,939,046,000 after purchasing an additional 10,304,211 shares during the period. BlackRock Inc. bought a new stake in shares of Primerica in the second quarter valued at about $848,161,000. Bank of Montreal Can lifted its stake in shares of Primerica by 5,277.5% in the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after buying an additional 1,287,243 shares during the period. Geode Capital Management LLC grew its position in Primerica by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock worth $205,011,000 after buying an additional 37,014 shares in the last quarter. Finally, Bamco Inc. NY acquired a new stake in Primerica during the second quarter worth about $190,827,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Stock Performance

Shares of NYSE PRI opened at $297.33 on Wednesday. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 11.94 and a beta of 0.87. The business’s 50-day simple moving average is $304.03 and its 200-day simple moving average is $278.58. Primerica has a 52 week low of $230.09 and a 52 week high of $327.28.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.38. The firm had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $5.46 EPS. As a group, equities research analysts forecast that Primerica will post 25.02 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 21st. Primerica’s payout ratio is currently 19.28%.

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.