Primerica, Inc. (NYSE:PRI) Receives $315.29 Average Price Target from Analysts

Shares of Primerica, Inc. (NYSE:PRI) have been given an average recommendation of “Hold” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $315.2857.

A number of research firms have weighed in on PRI. Keefe, Bruyette & Woods raised their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Monday, August 11th. Morgan Stanley lifted their price objective on Primerica from $292.00 to $308.00 and gave the stock an “equal weight” rating in a research report on Monday, August 18th. Finally, Jefferies Financial Group dropped their target price on Primerica from $293.00 to $283.00 and set a “hold” rating for the company in a report on Monday, August 11th.

Primerica Stock Down 1.2%

Shares of PRI opened at $271.66 on Wednesday. Primerica has a 52-week low of $230.98 and a 52-week high of $307.91. The stock has a market cap of $8.80 billion, a PE ratio of 13.42 and a beta of 1.00. The firm’s fifty day moving average is $266.76 and its two-hundred day moving average is $268.88.

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

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 22nd will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 22nd. Primerica’s dividend payout ratio (DPR) is presently 20.55%.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at $9,541,982.40. The trade was a 6.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PRI. Assetmark Inc. raised its position in Primerica by 17.1% in the first quarter. Assetmark Inc. now owns 1,778 shares of the financial services provider’s stock valued at $506,000 after purchasing an additional 260 shares during the period. Cerity Partners LLC increased its position in shares of Primerica by 21.7% during the 1st quarter. Cerity Partners LLC now owns 5,201 shares of the financial services provider’s stock worth $1,480,000 after purchasing an additional 927 shares during the last quarter. Deutsche Bank AG raised its holdings in Primerica by 224.3% in the 4th quarter. Deutsche Bank AG now owns 13,367 shares of the financial services provider’s stock valued at $3,628,000 after buying an additional 9,245 shares during the period. Allianz Asset Management GmbH purchased a new stake in Primerica in the 1st quarter valued at about $2,683,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Primerica by 11.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,385 shares of the financial services provider’s stock valued at $919,000 after buying an additional 354 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

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.