Primerica, Inc. (NYSE:PRI) Receives $281.67 Consensus Target Price from Analysts

Shares of Primerica, Inc. (NYSE:PRI) have earned an average rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $288.33.

Several equities research analysts recently issued reports on PRI shares. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Truist Financial lifted their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley lifted their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Jefferies Financial Group lifted their price objective on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Finally, Piper Sandler started coverage on shares of Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company.

Primerica Stock Up 2.4 %

Shares of NYSE:PRI opened at $297.73 on Thursday. The firm has a fifty day moving average of $269.64 and a two-hundred day moving average of $248.48. The firm has a market capitalization of $10.07 billion, a P/E ratio of 22.74 and a beta of 1.08. Primerica has a 12-month low of $184.76 and a 12-month high of $298.29.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The company had revenue of $803.38 million during the quarter, compared to analyst estimates of $748.88 million. Primerica had a net margin of 14.95% and a return on equity of 30.28%. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the business posted $3.99 EPS. Equities research analysts expect that Primerica will post 18.13 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.21%. Primerica’s payout ratio is 27.50%.

Insider Transactions at Primerica

In other news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the transaction, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the sale, the chief executive officer now directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the sale, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,500 shares of company stock worth $1,657,015. 0.85% of the stock is currently owned by company insiders.

Institutional Trading of Primerica

Several institutional investors have recently made changes to their positions in the business. ORG Partners LLC acquired a new position in Primerica in the second quarter valued at about $30,000. V Square Quantitative Management LLC acquired a new position in Primerica in the third quarter valued at about $31,000. Prospera Private Wealth LLC acquired a new position in Primerica in the third quarter valued at about $31,000. UMB Bank n.a. boosted its position in Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after buying an additional 60 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

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.