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

Primerica, Inc. (NYSE:PRI) has been given a consensus rating of “Hold” by the seven brokerages that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $296.33.

Several research firms have commented on PRI. Piper Sandler decreased their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. TD Cowen boosted their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Truist Financial raised their target price on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Institutional Trading of Primerica

A number of hedge funds and other institutional investors have recently modified their holdings of PRI. V Square Quantitative Management LLC bought a new position in shares of Primerica in the 3rd quarter valued at about $31,000. Prospera Private Wealth LLC acquired a new stake in shares of Primerica in the third quarter valued at approximately $31,000. UMB Bank n.a. boosted its stake in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares during the period. Larson Financial Group LLC boosted its stake in shares of Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Primerica during the 2nd quarter worth approximately $71,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Trading Up 0.3 %

NYSE PRI opened at $272.51 on Friday. Primerica has a 52 week low of $184.76 and a 52 week high of $307.91. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 20.82 and a beta of 1.09. The company has a 50-day moving average price of $287.16 and a two-hundred day moving average price of $264.12.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. The firm had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. Primerica’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $4.28 EPS. As a group, equities research analysts expect that Primerica will post 19.32 earnings per share for the current fiscal year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.32%. Primerica’s dividend payout ratio is 27.50%.

Primerica announced that its board has authorized a stock repurchase plan on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.