Primerica (NYSE:PRI) Sets New 1-Year High – What’s Next?

Primerica, Inc. (NYSE:PRI) hit a new 52-week high during trading on Wednesday . The stock traded as high as $275.48 and last traded at $275.00, with a volume of 26341 shares changing hands. The stock had previously closed at $269.72.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PRI shares. Truist Financial upped their price target on shares of Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, August 9th. TD Cowen initiated coverage on shares of Primerica in a research note on Wednesday. They issued a “buy” rating and a $314.00 target price on the stock. Piper Sandler started coverage on shares of Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective on the stock. Keefe, Bruyette & Woods increased their price target on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group increased their price objective on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $281.67.

Primerica Price Performance

The company has a market cap of $9.54 billion, a price-to-earnings ratio of 16.82 and a beta of 1.09. The firm has a 50-day moving average price of $258.27 and a 200 day moving average price of $241.47.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.24. The business had revenue of $803.38 million during the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The business’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.99 EPS. On average, equities analysts anticipate that Primerica, Inc. will post 18.03 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Wednesday, August 21st. This is a boost from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio is presently 21.91%.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the sale, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the sale, the director now owns 15,151 shares in the company, valued at $3,846,081.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock valued at $1,657,015 in the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

Several institutional investors and hedge funds have recently modified their holdings of the stock. ORG Partners LLC purchased a new stake in shares of Primerica during the second quarter valued at approximately $30,000. UMB Bank n.a. grew its holdings in Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 67 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of Primerica by 493.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after buying an additional 148 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 60 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in Primerica in the 2nd quarter valued at about $71,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

About Primerica

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.