Primerica, Inc. (NYSE:PRI) Receives Consensus Rating of “Hold” from Analysts

Shares of Primerica, Inc. (NYSE:PRI) have earned an average recommendation of “Hold” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $315.5714.

PRI has been the topic of a number of research analyst reports. Weiss Ratings lowered shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Truist Financial reiterated a “hold” rating and issued a $320.00 price target (down from $370.00) on shares of Primerica in a research note on Thursday, August 27th. Morgan Stanley increased their price target on Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a research note on Monday, August 24th. Jefferies Financial Group raised their price objective on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Finally, TD Cowen boosted their price objective on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd.

Primerica Trading Down 0.4%

PRI stock opened at $290.71 on Friday. The stock has a market capitalization of $8.95 billion, a P/E ratio of 11.68 and a beta of 0.86. Primerica has a 12 month low of $230.09 and a 12 month high of $327.28. The firm has a 50-day moving average price of $305.12 and a 200-day moving average price of $282.63.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.38. The company had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $5.46 EPS. As a group, equities analysts predict that Primerica will post 25.2 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Friday, August 21st were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 21st. Primerica’s dividend payout ratio (DPR) is presently 19.28%.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction that occurred 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 directly owned 32,196 shares in the company, valued at $10,309,159.20. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Cottle sold 279 shares of Primerica stock in a transaction that occurred 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 sale, the director owned 3,549 shares in the company, valued at approximately $1,113,072.87. This represents a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 3,579 shares of company stock worth $1,130,573. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Primerica

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC acquired a new stake in Primerica in the second quarter valued at $26,000. C M Bidwell & Associates Ltd. acquired a new position in Primerica during the 2nd quarter worth about $29,000. SJS Investment Consulting Inc. lifted its holdings in Primerica by 176.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after buying an additional 74 shares during the period. Root Financial Partners LLC lifted its holdings in Primerica by 52.6% during the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after buying an additional 61 shares during the period. Finally, Steph & Co. grew its position in shares of Primerica by 38.0% in the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock valued at $49,000 after buying an additional 54 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Company Profile

Primerica, Inc is a financial services company that helps middle-income households in the United States and Canada address their insurance, investment and retirement needs. The company primarily distributes its products through a network of independent representatives who provide financial education and assistance to clients.

Primerica’s principal offerings include term life insurance, mutual funds and other investment products, annuities, managed investments and retirement solutions. Through its subsidiaries and affiliated providers, the company also offers products and services related to mortgage lending, debt consolidation and other financial needs.

The company was founded in 1977 as A.L.