Primerica, Inc. (NYSE:PRI) Receives $300.00 Consensus Target Price from Analysts

Shares of Primerica, Inc. (NYSE:PRI) have received an average rating of “Hold” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $300.00.

PRI has been the topic of several recent analyst reports. Zacks Research downgraded shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. TD Cowen restated a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Morgan Stanley set a $292.00 price target on shares of Primerica in a report on Monday, December 15th. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Finally, Keefe, Bruyette & Woods cut their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 11th.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total transaction of $641,025.00. Following the completion of the transaction, the chief executive officer owned 27,392 shares of the company’s stock, valued at $7,023,582.72. This trade represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joel M. Babbit sold 700 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total transaction of $178,500.00. Following the completion of the sale, the director directly owned 8,400 shares in the company, valued at approximately $2,142,000. The trade was a 7.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Primerica

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. grew its holdings in Primerica by 18.1% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 39 shares during the period. Olympiad Research LP boosted its position in Primerica by 3.9% in the 2nd quarter. Olympiad Research LP now owns 1,061 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 40 shares in the last quarter. Seeds Investor LLC lifted its stake in shares of Primerica by 3.2% in the 4th quarter. Seeds Investor LLC now owns 1,374 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 42 shares during the period. Orion Porfolio Solutions LLC lifted its stake in shares of Primerica by 1.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 45 shares during the period. Finally, SkyView Investment Advisors LLC boosted its holdings in Primerica by 0.7% during the fourth quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider’s stock worth $1,794,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Trading Down 2.2%

Shares of PRI opened at $253.58 on Wednesday. The firm has a market cap of $8.09 billion, a PE ratio of 11.06 and a beta of 0.91. Primerica has a 12 month low of $230.09 and a 12 month high of $296.00. The stock has a fifty day moving average price of $260.70 and a 200-day moving average price of $263.19.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.69 by $0.44. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The company had revenue of $853.51 million for the quarter, compared to analyst estimates of $839.65 million. During the same period in the prior year, the company posted $5.03 EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts forecast that Primerica will post 20.6 EPS for the current year.

Primerica announced that its Board of Directors has approved a share buyback plan on Wednesday, November 19th that permits the company to repurchase $475.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, February 23rd. This is a boost from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio (DPR) is presently 20.93%.

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.