Brokerages Set Primerica, Inc. (NYSE:PRI) Target Price at $275.20

Primerica, Inc. (NYSE:PRI) has received a consensus recommendation of “Hold” from the six research firms that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $275.20.

A number of brokerages recently issued reports on PRI. Truist Financial raised their price objective on shares of Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, August 9th. Piper Sandler began coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. Morgan Stanley raised their price target on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group raised their price target on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the sale, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the sale, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the sale, the president now owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock worth $1,657,015 in the last quarter. 0.85% of the stock is owned by corporate insiders.

Institutional Trading of Primerica

Several hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC grew its position in Primerica by 1.4% in the 4th quarter. Intech Investment Management LLC now owns 3,924 shares of the financial services provider’s stock valued at $807,000 after purchasing an additional 55 shares during the period. Blue Trust Inc. grew its position in Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 60 shares during the period. GPS Wealth Strategies Group LLC grew its position in Primerica by 2.4% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 62 shares during the period. SkyView Investment Advisors LLC grew its position in Primerica by 1.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider’s stock valued at $1,484,000 after purchasing an additional 62 shares during the period. Finally, Inspire Investing LLC grew its position in Primerica by 5.4% in the 2nd quarter. Inspire Investing LLC now owns 1,483 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Trading Down 0.5 %

PRI opened at $263.34 on Wednesday. The company’s 50 day moving average is $254.89 and its 200-day moving average is $240.15. The company has a market cap of $9.06 billion, a P/E ratio of 16.03 and a beta of 1.09. Primerica has a 1-year low of $184.76 and a 1-year high of $265.67.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The business had revenue of $803.38 million during the quarter, compared to analyst estimates of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the business earned $3.99 EPS. On average, equities analysts forecast that Primerica will post 17.94 EPS for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were paid a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.37%. This is a positive change from Primerica’s previous quarterly dividend of $0.75. Primerica’s payout ratio is currently 21.91%.

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.