Keefe, Bruyette & Woods Issues Positive Forecast for Primerica (NYSE:PRI) Stock Price

Primerica (NYSE:PRI) had its price objective boosted by Keefe, Bruyette & Woods from $315.00 to $320.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other equities analysts have also commented on the company. Piper Sandler lowered their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Truist Financial lifted their price target on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Morgan Stanley lifted their target price on Primerica from $308.00 to $313.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, TD Cowen raised their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $311.14.

Primerica Stock Performance

Shares of PRI opened at $282.30 on Tuesday. Primerica has a fifty-two week low of $184.76 and a fifty-two week high of $307.91. The stock has a fifty day moving average of $282.05 and a two-hundred day moving average of $276.28. The company has a market capitalization of $9.42 billion, a PE ratio of 21.57 and a beta of 1.11.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 14.95% and a return on equity of 30.93%. As a group, equities research analysts forecast that Primerica will post 19.79 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be given a $1.04 dividend. The ex-dividend date is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is currently 27.50%.

Primerica announced that its Board of Directors has initiated a share buyback plan on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Primerica

Institutional investors have recently made changes to their positions in the company. Colonial Trust Co SC bought a new stake in shares of Primerica during the fourth quarter worth $25,000. True Wealth Design LLC bought a new position in Primerica in the 4th quarter valued at $27,000. V Square Quantitative Management LLC purchased a new stake in shares of Primerica during the 3rd quarter valued at approximately $31,000. Prospera Private Wealth LLC bought a new stake in shares of Primerica during the third quarter valued at about $31,000. Finally, Golden State Wealth Management LLC bought a new position in Primerica in the 4th quarter worth about $33,000. Institutional investors own 90.88% of the company’s stock.

Primerica Company Profile

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.