Primerica (NYSE:PRI) Given New $236.00 Price Target at Jefferies Financial Group

Primerica (NYSE:PRI) had its price objective upped by Jefferies Financial Group from $235.00 to $236.00 in a research note released on Friday, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

Several other analysts have also recently issued reports on PRI. StockNews.com cut Primerica from a buy rating to a hold rating in a report on Tuesday, May 7th. Morgan Stanley upped their price objective on Primerica from $245.00 to $250.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods upped their price objective on Primerica from $255.00 to $260.00 and gave the stock a market perform rating in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Primerica presently has an average rating of Hold and an average target price of $255.25.

Primerica Price Performance

PRI stock opened at $236.63 on Friday. Primerica has a 1-year low of $184.76 and a 1-year high of $256.56. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 14.40 and a beta of 1.08. The business has a 50 day simple moving average of $225.24 and a two-hundred day simple moving average of $229.17.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing the consensus estimate of $4.12 by ($0.21). Primerica had a return on equity of 27.35% and a net margin of 20.44%. The business had revenue of $742.83 million during the quarter, compared to the consensus estimate of $740.57 million. During the same quarter in the previous year, the company earned $3.49 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts anticipate that Primerica will post 17.66 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $3.00 annualized dividend and a yield of 1.27%. Primerica’s payout ratio is presently 18.26%.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $227.44, for a total transaction of $341,160.00. Following the sale, the president now owns 11,759 shares in the company, valued at approximately $2,674,466.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total value of $668,280.00. Following the sale, the chief executive officer now owns 48,322 shares in the company, valued at $10,764,208.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the completion of the sale, the president now owns 11,759 shares in the company, valued at approximately $2,674,466.96. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

Institutional Trading of Primerica

Hedge funds and other institutional investors have recently bought and sold shares of the business. ORG Partners LLC purchased a new stake in Primerica in the fourth quarter worth $26,000. Benjamin F. Edwards & Company Inc. increased its stake in Primerica by 493.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 148 shares during the period. Sound Income Strategies LLC increased its stake in Primerica by 121.9% in the fourth quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 128 shares during the period. GAMMA Investing LLC purchased a new stake in Primerica in the fourth quarter worth $133,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of Primerica during the 1st quarter worth $163,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

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.