Primerica, Inc. (NYSE:PRI) Receives $245.50 Consensus Target Price from Brokerages

Primerica, Inc. (NYSE:PRI) has been given an average rating of “Hold” by the five brokerages that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $245.50.

A number of brokerages have commented on PRI. Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Morgan Stanley upped their price objective on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Truist Financial lifted their target price on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Finally, Raymond James cut Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th.

Primerica Price Performance

Shares of Primerica stock opened at $218.39 on Friday. The stock’s 50 day simple moving average is $242.38 and its 200-day simple moving average is $222.57. The stock has a market cap of $7.58 billion, a P/E ratio of 13.75 and a beta of 1.06. Primerica has a 1-year low of $173.00 and a 1-year high of $256.56.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.27 by ($0.02). The company had revenue of $726.34 million during the quarter, compared to analyst estimates of $723.64 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $3.49 earnings per share. As a group, research analysts expect that Primerica will post 17.78 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This is a boost from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.37%. Primerica’s payout ratio is presently 18.89%.

Insider Buying and Selling

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total transaction of $58,455.54. Following the sale, the insider now directly owns 100 shares in the company, valued at $24,981. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the sale, the insider now directly owns 100 shares in the company, valued at $24,981. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John A. Jr. Addison sold 1,215 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total value of $302,535.00. Following the transaction, the director now directly owns 16,467 shares of the company’s stock, valued at $4,100,283. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,708 shares of company stock valued at $1,648,677. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of Primerica

Several hedge funds have recently added to or reduced their stakes in PRI. Arlington Trust Co LLC acquired a new stake in shares of Primerica in the 3rd quarter valued at $25,000. LWM Advisory Services LLC acquired a new stake in Primerica in the third quarter valued at $26,000. ORG Partners LLC purchased a new stake in Primerica during the 4th quarter worth about $26,000. Sound Income Strategies LLC boosted its position in shares of Primerica by 121.9% during the 4th quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 128 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Primerica by 12.0% in the 3rd quarter. IFP Advisors Inc now owns 617 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds 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.