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

Primerica, Inc. (NYSE:PRI) has received an average rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $297.80.

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their target price on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th.

Insider Buying and Selling

In other news, CEO Glenn J. Williams sold 1,500 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the sale, the chief executive officer owned 33,696 shares in the company, valued at approximately $9,451,391.04. The trade was a 4.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction that occurred on 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 transaction, the president owned 9,811 shares of the company’s stock, valued at $2,743,548.04. This trade represents a 15.50% 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. 0.63% of the stock is currently owned by company insiders.

Institutional Trading of Primerica

Several hedge funds have recently modified their holdings of the stock. Bank of Montreal Can boosted its position in shares of Primerica by 5,277.5% in the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after purchasing an additional 1,287,243 shares during the last quarter. Invesco Ltd. lifted its stake in Primerica by 200.3% in the fourth quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock valued at $92,414,000 after buying an additional 238,571 shares during the period. Life Cycle Investment Partners Ltd bought a new position in Primerica during the fourth quarter worth about $40,714,000. Millennium Management LLC boosted its holdings in Primerica by 183.3% during the fourth quarter. Millennium Management LLC now owns 212,196 shares of the financial services provider’s stock worth $54,823,000 after buying an additional 137,297 shares during the last quarter. Finally, Danske Bank A S acquired a new position in shares of Primerica during the 3rd quarter worth about $30,396,000. 90.88% of the stock is owned by institutional investors.

Primerica Stock Up 1.6%

Shares of PRI traded up $4.66 during mid-day trading on Tuesday, reaching $303.84. The company’s stock had a trading volume of 47,234 shares, compared to its average volume of 209,709. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 12.74 and a beta of 0.88. The business has a fifty day moving average of $277.63 and a 200 day moving average of $266.05. Primerica has a 1 year low of $230.09 and a 1 year high of $305.14.

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

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were issued a dividend of $1.20 per share. The ex-dividend date was Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. Primerica’s payout ratio is presently 20.13%.

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.