Primerica, Inc. (NYSE:PRI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Primerica, Inc. (NYSE:PRI) have earned an average rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $310.6667.

Several brokerages have commented on PRI. Weiss Ratings lowered shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Morgan Stanley upped their target price on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods increased their target price on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th. TD Cowen increased their target price on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group raised their target price on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research note on Friday, July 10th.

Primerica Trading Down 0.3%

Shares of NYSE PRI opened at $294.95 on Wednesday. The firm has a fifty day simple moving average of $303.34 and a two-hundred day simple moving average of $278.13. Primerica has a 12 month low of $230.09 and a 12 month high of $327.28. The firm has a market capitalization of $9.08 billion, a PE ratio of 11.85 and a beta of 0.87.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The firm had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. During the same quarter in the previous year, the firm posted $5.46 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, sell-side analysts predict that Primerica will post 25.02 earnings per share for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be issued a $1.20 dividend. The ex-dividend date is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. Primerica’s dividend payout ratio is 19.28%.

Insiders Place Their Bets

In other Primerica news, Director Amber Lynne Cottle sold 279 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the completion of the transaction, the director owned 3,549 shares of the company’s stock, valued at approximately $1,113,072.87. This trade represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Glenn J. Williams sold 1,500 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $320.20, for a total transaction of $480,300.00. Following the sale, the chief executive officer owned 32,196 shares in the company, valued at approximately $10,309,159.20. This trade represents a 4.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 5,079 shares of company stock worth $1,551,308. 0.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Primerica in the second quarter worth approximately $848,161,000. M&T Bank Corp grew its holdings in shares of Primerica by 1,155.8% during the fourth quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock valued at $8,303,000 after buying an additional 29,578 shares during the last quarter. Arbejdsmarkedets Tillaegspension bought a new stake in shares of Primerica during the fourth quarter valued at approximately $23,767,000. KBC Group NV increased its position in shares of Primerica by 2,664.8% during the first quarter. KBC Group NV now owns 24,496 shares of the financial services provider’s stock valued at $6,136,000 after acquiring an additional 23,610 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in Primerica in the 4th quarter worth approximately $2,289,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Company Profile

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.