Primerica (NYSE:PRI) Sets New 52-Week High at $265.35

Primerica, Inc. (NYSE:PRI)’s stock price reached a new 52-week high on Monday . The company traded as high as $265.35 and last traded at $265.35, with a volume of 51321 shares traded. The stock had previously closed at $258.60.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PRI shares. Truist Financial upped their price target on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Morgan Stanley upped their target price on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Piper Sandler started coverage on shares of Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective on the stock. Finally, StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $275.20.

Primerica Trading Up 2.4 %

The stock’s 50-day moving average is $254.26 and its 200-day moving average is $239.92. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 15.74 and a beta of 1.09.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. The firm had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The company’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.99 EPS. On average, equities analysts predict that Primerica, Inc. will post 17.94 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Wednesday, August 21st. This is an increase from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio is 21.91%.

Insider Buying and Selling

In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 15,151 shares of the company’s stock, valued at $3,846,081.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 15,151 shares of the company’s stock, valued at $3,846,081.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the sale, the president now directly owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,500 shares of company stock valued at $1,657,015. 0.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Primerica

Hedge funds have recently made changes to their positions in the stock. ORG Partners LLC acquired a new stake in shares of Primerica during the second quarter worth approximately $30,000. Benjamin F. Edwards & Company Inc. lifted its stake in Primerica by 493.3% during 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 last quarter. Blue Trust Inc. lifted its stake in Primerica by 45.5% during the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 60 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Primerica during the second quarter worth $71,000. Finally, O Dell Group LLC bought a new position in Primerica during the fourth quarter worth $153,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

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.