Primerica, Inc. (NYSE:PRI) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Primerica, Inc. (NYSE:PRI) have received an average rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $293.50.

Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Truist Financial upped their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler began coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. Finally, StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the transaction, the director now owns 15,151 shares of the company’s stock, valued at approximately $3,846,081.35. This represents a 11.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Primerica

A number of institutional investors have recently modified their holdings of the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Primerica during the third quarter worth about $3,710,000. Harbor Capital Advisors Inc. lifted its stake in shares of Primerica by 456.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock valued at $2,164,000 after acquiring an additional 7,506 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Primerica during the 2nd quarter valued at $3,514,000. SG Americas Securities LLC acquired a new position in Primerica in the 2nd quarter worth about $893,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Primerica by 359,742.9% during the third quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock valued at $6,679,000 after purchasing an additional 25,182 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Price Performance

Shares of NYSE:PRI opened at $302.75 on Monday. The stock has a market capitalization of $10.10 billion, a PE ratio of 23.13 and a beta of 1.08. The company’s 50-day moving average price is $282.86 and its two-hundred day moving average price is $257.28. Primerica has a one year low of $184.76 and a one year high of $307.91.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. The company had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.28 EPS. On average, analysts anticipate that Primerica will post 19.32 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.90 dividend. The ex-dividend date is Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.19%. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Primerica announced that its board has authorized a share buyback program on Thursday, November 14th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board 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.