Primerica, Inc. (NYSE:PRI) Receives $245.50 Average Target Price from Analysts

Shares of Primerica, Inc. (NYSE:PRI) have been given a consensus rating of “Hold” by the five brokerages that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $245.50.

PRI has been the topic of several recent research reports. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Morgan Stanley increased their price objective on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Truist Financial increased their price objective on Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Keefe, Bruyette & Woods increased their target price on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th.

Insider Activity at Primerica

In related news, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the sale, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at $829,307.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John A. Jr. Addison sold 1,215 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total value of $302,535.00. Following the sale, the director now directly owns 16,467 shares of the company’s stock, valued at $4,100,283. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the sale, the chief operating officer now directly owns 3,379 shares in the company, valued at $829,307.97. The disclosure for this sale can be found here. Insiders have sold 6,708 shares of company stock valued at $1,648,677 over the last ninety days. 0.85% of the stock is owned by corporate insiders.

Institutional Trading of Primerica

A number of hedge funds have recently made changes to their positions in PRI. Invesco Ltd. boosted its stake in shares of Primerica by 110.6% during the third quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock valued at $87,200,000 after purchasing an additional 236,051 shares in the last quarter. Norges Bank acquired a new stake in shares of Primerica during the fourth quarter valued at about $31,194,000. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Primerica by 86.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock valued at $23,010,000 after purchasing an additional 55,076 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Primerica by 47.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock valued at $25,840,000 after purchasing an additional 40,647 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Primerica by 378.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 50,445 shares of the financial services provider’s stock valued at $9,787,000 after purchasing an additional 39,905 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Trading Down 1.5 %

PRI opened at $218.62 on Friday. Primerica has a 1-year low of $173.00 and a 1-year high of $256.56. The stock’s fifty day simple moving average is $241.50 and its 200 day simple moving average is $222.54. The stock has a market cap of $7.59 billion, a PE ratio of 13.77 and a beta of 1.06.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.27 by ($0.02). The firm had revenue of $726.34 million for the quarter, compared to the consensus estimate of $723.64 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.49 EPS. Equities analysts forecast that Primerica will post 17.78 earnings per share for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were issued a dividend of $0.75 per share. This is a positive change from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Tuesday, February 20th. Primerica’s dividend payout ratio is 18.89%.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services 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.