Analysts Set Primerica, Inc. (NYSE:PRI) Price Target at $314.86

Shares of Primerica, Inc. (NYSE:PRI) have received an average rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $314.8571.

Several research analysts recently weighed in on PRI shares. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Monday, August 11th. Jefferies Financial Group dropped their target price on shares of Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a report on Monday, August 11th. Zacks Research upgraded shares of Primerica from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Morgan Stanley decreased their price objective on shares of Primerica from $308.00 to $306.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Finally, Piper Sandler set a $292.00 price objective on shares of Primerica and gave the company a “neutral” rating in a report on Tuesday, October 7th.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total transaction of $655,500.00. Following the sale, the chief executive officer directly owned 36,392 shares of the company’s stock, valued at $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. HB Wealth Management LLC raised its holdings in shares of Primerica by 1.9% during the first quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider’s stock valued at $594,000 after acquiring an additional 38 shares during the last quarter. Olympiad Research LP raised its holdings in Primerica by 3.9% in the 2nd quarter. Olympiad Research LP now owns 1,061 shares of the financial services provider’s stock valued at $290,000 after acquiring an additional 40 shares during the last quarter. Applied Finance Capital Management LLC increased its holdings in Primerica by 5.3% in the 1st quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 42 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Primerica by 1.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider’s stock worth $881,000 after purchasing an additional 44 shares during the last quarter. Finally, Orion Porfolio Solutions LLC lifted its holdings in Primerica by 1.2% in the second quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock worth $1,058,000 after acquiring an additional 45 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Performance

Shares of PRI opened at $264.37 on Thursday. Primerica has a 52 week low of $230.98 and a 52 week high of $307.91. The firm has a market capitalization of $8.56 billion, a P/E ratio of 13.06 and a beta of 0.97. The stock has a 50 day moving average price of $270.51 and a two-hundred day moving average price of $266.97.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.28. The company had revenue of $796.02 million for the quarter, compared to analysts’ expectations of $790.99 million. Primerica had a return on equity of 32.42% and a net margin of 21.48%.Primerica’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $4.71 earnings per share. On average, equities analysts forecast that Primerica will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 22nd were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. Primerica’s payout ratio is presently 20.55%.

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.