Primerica, Inc. (NYSE:PRI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Primerica, Inc. (NYSE:PRIGet Rating) have received an average recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $164.83.

Several brokerages have recently weighed in on PRI. StockNews.com initiated coverage on shares of Primerica in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley downgraded shares of Primerica from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $153.00 to $148.00 in a research note on Thursday, May 19th. Finally, Credit Suisse Group reduced their price target on shares of Primerica from $199.00 to $187.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 1st.

In other Primerica news, CEO Glenn J. Williams sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $119.32, for a total transaction of $477,280.00. Following the transaction, the chief executive officer now owns 62,215 shares of the company’s stock, valued at approximately $7,423,493.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.85% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of PRI. Covestor Ltd increased its position in Primerica by 74.7% during the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 109 shares during the period. National Bank of Canada FI bought a new stake in shares of Primerica in the 4th quarter valued at about $43,000. City State Bank bought a new stake in shares of Primerica in the 4th quarter valued at about $43,000. Signaturefd LLC boosted its holdings in shares of Primerica by 84.2% in the 1st quarter. Signaturefd LLC now owns 420 shares of the financial services provider’s stock valued at $57,000 after buying an additional 192 shares in the last quarter. Finally, HM Payson & Co. bought a new stake in shares of Primerica in the 1st quarter valued at about $72,000. 90.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of PRI opened at $113.45 on Monday. Primerica has a twelve month low of $110.22 and a twelve month high of $179.51. The company has a market cap of $4.42 billion, a P/E ratio of 12.65 and a beta of 1.36. The company’s fifty day simple moving average is $125.99 and its 200-day simple moving average is $137.38.

Primerica (NYSE:PRIGet Rating) last announced its earnings results on Thursday, May 5th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.68). Primerica had a net margin of 12.92% and a return on equity of 22.07%. The firm had revenue of $691.30 million during the quarter, compared to analysts’ expectations of $731.25 million. During the same period in the prior year, the company posted $2.44 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Primerica will post 11.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 14th. Shareholders of record on Friday, May 20th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Thursday, May 19th. Primerica’s dividend payout ratio (DPR) is 24.53%.

Primerica Company Profile (Get Rating)

Primerica, Inc, together with its subsidiaries, provides financial products to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products. The Term Life Insurance segment underwrites individual term life insurance products.

Further Reading

Analyst Recommendations for Primerica (NYSE:PRI)

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