Analysts Set Primerica, Inc. (NYSE:PRI) PT at $296.33

Primerica, Inc. (NYSE:PRI) has been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $296.33.

A number of equities analysts recently commented on PRI shares. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. TD Cowen raised their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Piper Sandler reduced their price objective 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.

Primerica Stock Down 0.7 %

Shares of PRI stock opened at $270.59 on Friday. Primerica has a 12-month low of $184.76 and a 12-month high of $307.91. The company has a market capitalization of $9.03 billion, a PE ratio of 20.67 and a beta of 1.09. The firm has a 50 day moving average price of $286.82 and a two-hundred day moving average price of $265.09.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share 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 firm had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. During the same quarter last year, the business earned $4.28 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, research analysts expect that Primerica will post 19.32 EPS for the current year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Thursday, November 21st. Primerica’s payout ratio is 27.50%.

Primerica announced that its board has approved a stock repurchase program on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other 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 value of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after purchasing an additional 25,951 shares during the period. Barclays PLC lifted its position in shares of Primerica by 108.1% during the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after buying an additional 10,635 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Primerica during the 3rd quarter valued at about $3,710,000. BNP Paribas Financial Markets grew its stake in shares of Primerica by 320.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider’s stock valued at $1,525,000 after acquiring an additional 4,383 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Primerica in the third quarter worth approximately $646,000. 90.88% of the stock is currently owned by institutional investors.

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.