Primerica’s (PRI) Hold Rating Reiterated at Truist Financial

Truist Financial reissued their hold rating on shares of Primerica (NYSE:PRI) in a research report sent to investors on Thursday, MarketBeat reports. They currently have a $320.00 price target on the financial services provider’s stock, down from their previous price target of $370.00.

PRI has been the topic of several other research reports. Weiss Ratings cut shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group increased their price target on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Morgan Stanley lifted their price target on Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. Keefe, Bruyette & Woods boosted their price objective on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th. Finally, TD Cowen boosted their price objective on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $315.57.

Primerica Trading Down 0.5%

Shares of NYSE:PRI opened at $289.86 on Thursday. The stock’s fifty day simple moving average is $304.77 and its two-hundred day simple moving average is $278.97. Primerica has a 1-year low of $230.09 and a 1-year high of $327.28. The stock has a market cap of $8.92 billion, a PE ratio of 11.64 and a beta of 0.87.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.38. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The business had revenue of $865.07 million for the quarter, compared to analysts’ expectations of $881.00 million. During the same period in the previous year, the company earned $5.46 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, sell-side analysts forecast that Primerica will post 25.09 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.80 annualized dividend and a yield of 1.7%. Primerica’s payout ratio is currently 19.28%.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $312.65, for a total transaction of $562,770.00. Following the completion of the sale, the president owned 8,011 shares in the company, valued at $2,504,639.15. This trade represents a 18.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $320.20, for a total transaction of $480,300.00. Following the completion of the sale, the chief executive officer directly owned 32,196 shares in the company, valued at $10,309,159.20. This trade represents a 4.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,079 shares of company stock worth $1,551,308 over the last three months. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Primerica

Institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. grew its holdings in shares of Primerica by 18.1% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 39 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Primerica by 1.1% during the 1st quarter. Pacer Advisors Inc. now owns 3,790 shares of the financial services provider’s stock valued at $949,000 after buying an additional 40 shares during the last quarter. Orion Porfolio Solutions LLC raised its holdings in Primerica by 1.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock valued at $1,058,000 after buying an additional 45 shares during the last quarter. SkyView Investment Advisors LLC boosted its position in Primerica by 0.7% during the 4th quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 46 shares during the period. Finally, JLB & Associates Inc. boosted its position in Primerica by 0.3% during the 4th quarter. JLB & Associates Inc. now owns 18,679 shares of the financial services provider’s stock valued at $4,826,000 after buying an additional 51 shares during the period. 90.88% of the stock is owned by institutional investors.

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.