Primerica’s (PRI) “Hold” Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Primerica (NYSE:PRI) in a report released on Thursday morning, MarketBeat reports. They currently have a $290.00 price objective on the financial services provider’s stock.

Several other research analysts also recently issued reports on PRI. Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. TD Cowen reissued a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Morgan Stanley reduced their price objective on Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $293.60.

Primerica Trading Down 3.0%

NYSE:PRI opened at $246.17 on Thursday. The company has a market capitalization of $7.79 billion, a P/E ratio of 10.74 and a beta of 0.92. The firm has a 50-day moving average price of $257.03 and a two-hundred day moving average price of $261.08. Primerica has a twelve month low of $230.09 and a twelve month high of $291.64.

Primerica (NYSE:PRI) last announced its quarterly 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. The company had revenue of $853.51 million for the quarter, compared to the consensus estimate of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.03 earnings per share. On average, equities research analysts predict that Primerica will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, February 23rd. This is an increase from Primerica’s previous quarterly dividend of $1.04. Primerica’s payout ratio is currently 20.93%.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total transaction of $454,284.00. Following the completion of the transaction, the president owned 11,611 shares of the company’s stock, valued at approximately $2,930,384.18. This represents a 13.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction that occurred on 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 approximately $7,023,582.72. This represents a 8.36% decrease in their position. The SEC filing for this sale provides additional information. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of Primerica

Several institutional investors have recently made changes to their positions in PRI. Root Financial Partners LLC purchased a new position in shares of Primerica in the 3rd quarter worth $27,000. Smartleaf Asset Management LLC grew its position in Primerica by 186.5% during the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 69 shares during the period. V Square Quantitative Management LLC purchased a new stake in Primerica during the fourth quarter valued at about $30,000. Quent Capital LLC acquired a new stake in Primerica during the third quarter worth about $33,000. Finally, Torren Management LLC acquired a new stake in Primerica during the fourth quarter worth about $50,000. 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.