Primerica, Inc. (NYSE:PRI) Given Consensus Rating of “Hold” by Brokerages

Shares of Primerica, Inc. (NYSE:PRI) have received an average rating of “Hold” from the eight research firms that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $304.14.

Several brokerages have recently weighed in on PRI. TD Cowen upped their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial raised their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods decreased their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Finally, BMO Capital Markets initiated coverage on Primerica in a research report on Thursday. They set a “market perform” rating and a $311.00 target price on the stock.

Primerica Trading Down 0.7 %

Shares of NYSE:PRI opened at $289.80 on Tuesday. Primerica has a 12-month low of $184.76 and a 12-month high of $307.91. The stock’s 50-day moving average price is $285.15 and its two-hundred day moving average price is $271.44. The firm has a market cap of $9.67 billion, a price-to-earnings ratio of 22.14 and a beta of 1.11.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. The business had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.28 EPS. As a group, research analysts forecast that Primerica will post 19.79 earnings per share for the current fiscal year.

Primerica declared that its Board of Directors has initiated a share buyback program on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a $0.90 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.24%. Primerica’s payout ratio is currently 27.50%.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is currently owned by insiders.

Institutional Trading of Primerica

Several hedge funds have recently added to or reduced their stakes in PRI. Geode Capital Management LLC increased its stake in shares of Primerica by 3.9% during the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after acquiring an additional 25,951 shares during the period. Barclays PLC increased 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 purchasing an additional 10,635 shares during the period. Oak Thistle LLC raised its stake in shares of Primerica by 64.9% in the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after buying an additional 1,943 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Primerica in the third quarter valued at $3,710,000. Finally, BNP Paribas Financial Markets boosted its stake in Primerica by 320.6% during the third quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider’s stock valued at $1,525,000 after buying an additional 4,383 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

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.