Analysts Set Primerica, Inc. (NYSE:PRI) PT at $297.80

Shares of Primerica, Inc. (NYSE:PRI) have received an average recommendation of “Hold” from the eight ratings firms that are covering the firm, 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 1-year price objective among brokers that have updated their coverage on the stock in the last year is $297.80.

Several research firms have issued reports on PRI. Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Morgan Stanley upped their target price on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Finally, Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th.

Insider Activity at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the sale, the president owned 9,811 shares of the company’s stock, valued at $2,743,548.04. This represents a 15.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Primerica

Hedge funds and other institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its position in shares of Primerica by 186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 69 shares during the last quarter. SJS Investment Consulting Inc. increased its position in shares of Primerica by 176.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 74 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Primerica during the 4th quarter valued at about $30,000. Root Financial Partners LLC increased its position in shares of Primerica by 52.6% during the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 61 shares during the last quarter. Finally, Steph & Co. increased its position in shares of Primerica by 38.0% during the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

PRI opened at $279.11 on Friday. The stock has a market capitalization of $8.70 billion, a P/E ratio of 11.70 and a beta of 0.88. The company’s 50-day simple moving average is $271.19 and its two-hundred day simple moving average is $262.52. Primerica has a 52-week low of $230.09 and a 52-week high of $288.03.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.45 by $0.51. The business had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.02 EPS. Research analysts forecast that Primerica will post 24.45 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Primerica’s dividend payout ratio is presently 20.13%.

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.