Shares of Primerica, Inc. (NYSE:PRI) have earned a consensus rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $103.00.
Several brokerages have issued reports on PRI. Zacks Investment Research cut Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 27th. ValuEngine raised Primerica from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Wells Fargo set a $102.00 target price on Primerica and gave the company a “hold” rating in a research report on Wednesday, February 7th. Finally, SunTrust Banks increased their target price on Primerica to $112.00 and gave the company a “hold” rating in a research report on Monday, January 22nd.
PRI opened at $95.95 on Wednesday. The firm has a market cap of $4,289.37, a price-to-earnings ratio of 17.38, a PEG ratio of 1.34 and a beta of 1.13. Primerica has a 52 week low of $70.00 and a 52 week high of $108.05.
The business also recently announced a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Thursday, February 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, February 14th. This is a boost from Primerica’s previous quarterly dividend of $0.20. Primerica’s dividend payout ratio (DPR) is 18.12%.
Primerica announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
In other news, President Peter W. Schneider sold 991 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $100.97, for a total value of $100,061.27. Following the completion of the sale, the president now owns 25,881 shares of the company’s stock, valued at approximately $2,613,204.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $98.67, for a total value of $296,010.00. Following the completion of the sale, the chief executive officer now directly owns 63,095 shares of the company’s stock, valued at approximately $6,225,583.65. The disclosure for this sale can be found here. Insiders have sold a total of 17,482 shares of company stock worth $1,770,883 in the last ninety days. Insiders own 0.86% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Parametrica Management Ltd acquired a new stake in shares of Primerica in the 4th quarter worth $203,000. Magnetar Financial LLC acquired a new stake in shares of Primerica in the 3rd quarter worth $204,000. Csenge Advisory Group acquired a new stake in shares of Primerica in the 4th quarter worth $210,000. Jane Street Group LLC acquired a new stake in shares of Primerica in the 3rd quarter worth $215,000. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of Primerica in the 4th quarter worth $218,000. 91.47% of the stock is owned by hedge funds and other institutional investors.
Primerica Company Profile
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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