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

Primerica, Inc. (NYSE:PRI) has been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat Ratings 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 target among brokerages that have issued a report on the stock in the last year is $303.00.

Several research firms have recently issued reports on PRI. Keefe, Bruyette & Woods lowered their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Friday, January 10th. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Truist Financial boosted their target price on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Piper Sandler reduced their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, TD Cowen boosted their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s 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 $10,942,728.94. The trade was a 7.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Several institutional investors and hedge funds have recently made changes to their positions in PRI. V Square Quantitative Management LLC purchased a new position in Primerica in the 3rd quarter worth $31,000. Prospera Private Wealth LLC acquired a new position in shares of Primerica in the third quarter valued at about $31,000. UMB Bank n.a. raised its stake in shares of Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the period. Finally, Quarry LP boosted its position in Primerica by 629.2% in the third quarter. Quarry LP now owns 350 shares of the financial services provider’s stock valued at $93,000 after buying an additional 302 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Stock Up 1.1 %

Primerica stock opened at $291.93 on Tuesday. Primerica has a 52-week low of $184.76 and a 52-week high of $307.91. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 22.30 and a beta of 1.11. The firm’s fifty day moving average is $285.75 and its 200 day moving average is $270.06.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. During the same quarter last year, the business posted $4.28 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. On average, equities research analysts anticipate that Primerica will post 19.55 earnings per share for the current fiscal year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were paid 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 dividend yield of 1.23%. Primerica’s dividend payout ratio is presently 27.50%.

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