Primerica, Inc. (NYSE:PRI) Receives $309.86 Consensus Price Target from Analysts

Primerica, Inc. (NYSE:PRI) has earned an average recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $309.86.

Several equities analysts have recently issued reports on the stock. BMO Capital Markets started coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target for the company. Piper Sandler dropped their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Morgan Stanley decreased their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Keefe, Bruyette & Woods raised their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Finally, StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the sale, the insider now owns 200 shares of the company’s stock, valued at $56,030. This trade represents a 53.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Primerica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Colonial Trust Co SC bought a new stake in Primerica during the fourth quarter worth about $25,000. True Wealth Design LLC bought a new position in Primerica in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC acquired a new position in Primerica during the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 71 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Primerica by 116.2% in the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 115 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Trading Down 0.6 %

NYSE PRI opened at $244.07 on Friday. Primerica has a 12 month low of $184.76 and a 12 month high of $307.91. The stock has a 50-day simple moving average of $282.15 and a 200 day simple moving average of $282.28. The company has a market capitalization of $8.08 billion, a PE ratio of 17.75 and a beta of 1.03.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, sell-side analysts predict that Primerica will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is 30.25%.

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.