Primerica, Inc. (NYSE:PRI) Given Average Recommendation of “Hold” by Brokerages
by Tristan Rich · The Markets DailyPrimerica, Inc. (NYSE:PRI – Get Free Report) has been assigned an average recommendation of “Hold” from the nine analysts that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $315.5714.
A number of analysts have issued reports on the company. Weiss Ratings downgraded Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Truist Financial reissued a “hold” rating and set a $320.00 price target (down from $370.00) on shares of Primerica in a research report on Thursday, August 27th. Jefferies Financial Group upped their price objective on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Morgan Stanley raised their price objective on shares of Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a research report on Monday, August 24th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th.
Read Our Latest Stock Analysis on PRI
Primerica Price Performance
Shares of Primerica stock opened at $290.25 on Friday. The stock has a market cap of $8.93 billion, a P/E ratio of 11.66 and a beta of 0.86. The stock’s 50 day simple moving average is $304.82 and its 200-day simple moving average is $282.68. Primerica has a 1-year low of $230.09 and a 1-year high of $327.28.
Primerica (NYSE:PRI – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating the consensus estimate of $6.03 by $0.38. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The firm had revenue of $865.07 million during the quarter, compared to analysts’ expectations of $881.00 million. During the same quarter last year, the firm earned $5.46 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts expect that Primerica will post 25.2 EPS for the current fiscal year.
Primerica Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Friday, August 21st were issued a dividend of $1.20 per share. The ex-dividend date was Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Primerica’s dividend payout ratio (DPR) is currently 19.28%.
Insider Activity
In related news, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $320.20, for a total value of $480,300.00. Following the completion of the transaction, the chief executive officer directly owned 32,196 shares in the company, valued at approximately $10,309,159.20. This represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Cottle sold 279 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total value of $87,502.77. Following the completion of the transaction, the director owned 3,549 shares of the company’s stock, valued at $1,113,072.87. The trade was a 7.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,579 shares of company stock valued at $1,130,573. 0.63% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Primerica
Large investors have recently modified their holdings of the business. Ameritas Advisory Services LLC acquired a new stake in shares of Primerica during the 2nd quarter worth about $26,000. C M Bidwell & Associates Ltd. purchased a new position in Primerica during the second quarter worth about $29,000. SJS Investment Consulting Inc. boosted its stake in Primerica by 176.2% during the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after buying an additional 74 shares during the period. Root Financial Partners LLC increased its position in shares of Primerica by 52.6% during the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 61 shares during the last quarter. Finally, Steph & Co. increased its position in shares of Primerica by 38.0% during the first quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.
About Primerica
Primerica, Inc is a financial services company that helps middle-income households in the United States and Canada address their insurance, investment and retirement needs. The company primarily distributes its products through a network of independent representatives who provide financial education and assistance to clients.
Primerica’s principal offerings include term life insurance, mutual funds and other investment products, annuities, managed investments and retirement solutions. Through its subsidiaries and affiliated providers, the company also offers products and services related to mortgage lending, debt consolidation and other financial needs.
The company was founded in 1977 as A.L.
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