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

Primerica, Inc. (NYSE:PRI) has been given an average rating of “Hold” by the seven analysts that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $293.50.

Several analysts recently commented on the company. Piper Sandler began coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. Truist Financial increased their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. TD Cowen lifted their target price on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley increased their price target on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th.

Primerica Stock Performance

Shares of PRI stock opened at $302.75 on Monday. The firm has a fifty day moving average of $282.86 and a 200-day moving average of $257.28. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of 23.13 and a beta of 1.08. Primerica has a 52-week low of $184.76 and a 52-week high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.28 earnings per share. On average, sell-side analysts predict that Primerica will post 19.32 earnings per share for the current year.

Primerica announced that its board has authorized a share buyback program on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.19%. Primerica’s payout ratio is 27.50%.

Insider Buying and Selling at Primerica

In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the sale, the director now directly owns 15,151 shares in the company, valued at approximately $3,846,081.35. This trade represents a 11.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

A number of large investors have recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Primerica in the third quarter valued at approximately $3,710,000. Harbor Capital Advisors Inc. increased its holdings in Primerica by 456.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock worth $2,164,000 after purchasing an additional 7,506 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Primerica during the 2nd quarter worth about $3,514,000. SG Americas Securities LLC acquired a new stake in shares of Primerica in the 2nd quarter valued at about $893,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Primerica by 359,742.9% in the third quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock valued at $6,679,000 after purchasing an additional 25,182 shares in the last quarter. 90.88% of the stock is owned by 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.