Primerica, Inc. (NYSE:PRI) Receives $293.60 Average Target Price from Analysts

Primerica, Inc. (NYSE:PRI) has been given an average rating of “Hold” by the eight analysts that are presently 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 price objective among brokers that have issued a report on the stock in the last year is $296.60.

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Primerica in a report on Wednesday, May 6th. Keefe, Bruyette & Woods increased their price target on Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday. TD Cowen reiterated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Morgan Stanley decreased their price target on Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Finally, Zacks Research downgraded Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th.

Primerica Stock Down 2.3%

NYSE PRI opened at $267.42 on Monday. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 11.21 and a beta of 0.91. Primerica has a twelve month low of $230.09 and a twelve month high of $288.03. The stock has a fifty day simple moving average of $262.88 and a 200 day simple moving average of $260.50.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, beating analysts’ consensus estimates of $5.45 by $0.51. The business had revenue of $872.30 million during the quarter, compared to the consensus estimate of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.Primerica’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $5.02 earnings per share. Research analysts expect that Primerica will post 24.08 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 21st will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, May 21st. Primerica’s dividend payout ratio is 20.13%.

Insider Transactions at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total transaction of $454,284.00. Following the transaction, the president owned 11,611 shares of the company’s stock, valued at $2,930,384.18. This represents a 13.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total transaction of $641,025.00. Following the transaction, the chief executive officer directly owned 27,392 shares in the company, valued at $7,023,582.72. This trade represents a 8.36% decrease in their position. The SEC filing for this sale provides additional information. 0.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Primerica

Several large investors have recently added to or reduced their stakes in PRI. Bank of Montreal Can lifted its position in Primerica by 5,277.5% in the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after acquiring an additional 1,287,243 shares in the last quarter. Invesco Ltd. increased its stake in Primerica by 200.3% in the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock valued at $92,414,000 after buying an additional 238,571 shares during the last quarter. Nordea Investment Management AB purchased a new stake in Primerica in the 3rd quarter valued at about $51,004,000. Life Cycle Investment Partners Ltd purchased a new stake in Primerica in the 4th quarter valued at about $40,714,000. Finally, Millennium Management LLC increased its stake in Primerica by 183.3% in the 4th quarter. Millennium Management LLC now owns 212,196 shares of the financial services provider’s stock valued at $54,823,000 after buying an additional 137,297 shares during 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.