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

Shares of Primerica, Inc. (NYSE:PRI) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the stock, MarketBeat.com 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 target among brokerages that have issued ratings on the stock in the last year is $309.14.

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

Insiders Place Their Bets

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the sale, the insider now owns 200 shares in the company, valued at $56,030. This represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares of the company’s stock, valued at $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 over the last quarter. 0.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Primerica

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

Primerica Trading Up 1.3 %

NYSE PRI opened at $251.76 on Friday. The business has a fifty day simple moving average of $279.38 and a 200 day simple moving average of $281.94. Primerica has a 12 month low of $184.76 and a 12 month high of $307.91. The firm has a market capitalization of $8.33 billion, a P/E ratio of 18.31 and a beta of 1.03.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating the consensus estimate 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 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a $1.04 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s payout ratio is currently 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.