Brokerages Set Primerica, Inc. (NYSE:PRI) PT at $300.00

Shares of Primerica, Inc. (NYSE:PRI) have received an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $300.00.

PRI has been the subject of a number of research analyst reports. Weiss Ratings lowered Primerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, January 21st. Zacks Research upgraded Primerica from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Keefe, Bruyette & Woods cut their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Tuesday, November 11th. Morgan Stanley set a $292.00 price target on shares of Primerica in a research note on Monday, December 15th. Finally, Piper Sandler set a $292.00 price objective on shares of Primerica and gave the company a “neutral” rating in a research report on Tuesday, October 7th.

Primerica Trading Up 0.6%

PRI opened at $264.50 on Friday. The stock has a 50-day moving average of $259.47 and a 200 day moving average of $263.74. Primerica has a 12 month low of $230.98 and a 12 month high of $298.75. The firm has a market cap of $8.44 billion, a P/E ratio of 12.16 and a beta of 0.91.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share for the quarter, beating analysts’ consensus estimates of $5.52 by $0.81. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The business had revenue of $838.88 million for the quarter, compared to analysts’ expectations of $817.81 million. During the same quarter in the previous year, the business posted $4.83 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. On average, research analysts forecast that Primerica will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 21st were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $4.16 annualized dividend and a yield of 1.6%. Primerica’s dividend payout ratio is 19.12%.

Primerica declared that its board has initiated a share repurchase program on Wednesday, November 19th that permits the company to buyback $475.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 5.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at Primerica

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $255.30, for a total transaction of $510,600.00. Following the transaction, the president directly owned 7,301 shares in the company, valued at $1,863,945.30. This represents a 21.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $259.65, for a total transaction of $649,125.00. Following the completion of the sale, the chief executive officer owned 33,892 shares of the company’s stock, valued at approximately $8,800,057.80. This represents a 6.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,200 shares of company stock worth $1,338,225 over the last three months. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Root Financial Partners LLC acquired a new stake in Primerica in the third quarter valued at approximately $27,000. Smartleaf Asset Management LLC lifted its holdings in shares of Primerica by 186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 69 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Primerica in the 4th quarter worth $30,000. Hilltop National Bank purchased a new position in Primerica during the 2nd quarter worth $31,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Primerica during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.