Keefe, Bruyette & Woods Increases Primerica (NYSE:PRI) Price Target to $275.00

Primerica (NYSE:PRI) had its price objective increased by Keefe, Bruyette & Woods from $255.00 to $275.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

PRI has been the topic of a number of other reports. StockNews.com cut shares of Primerica from a buy rating to a hold rating in a report on Tuesday, May 7th. Jefferies Financial Group upped their price target on shares of Primerica from $235.00 to $236.00 and gave the stock a hold rating in a report on Friday, June 28th. Finally, Morgan Stanley cut their price target on shares of Primerica from $245.00 to $243.00 and set an equal weight rating on the stock in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Primerica has a consensus rating of Hold and a consensus target price of $260.50.

Primerica Trading Down 1.2 %

NYSE PRI opened at $248.53 on Wednesday. The company’s 50-day moving average price is $231.98 and its 200-day moving average price is $232.68. The stock has a market cap of $8.55 billion, a PE ratio of 15.13 and a beta of 1.09. Primerica has a 12 month low of $184.76 and a 12 month high of $256.56.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 EPS for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). The company had revenue of $742.83 million during the quarter, compared to the consensus estimate of $740.57 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.49 earnings per share. As a group, sell-side analysts forecast that Primerica will post 17.73 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Monday, May 20th. Primerica’s payout ratio is currently 18.26%.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $222.76, for a total value of $668,280.00. Following the completion of the transaction, the chief executive officer now directly owns 48,322 shares of the company’s stock, valued at approximately $10,764,208.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Primerica news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $227.44, for a total transaction of $341,160.00. Following the completion of the transaction, the president now directly owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total transaction of $668,280.00. Following the transaction, the chief executive officer now directly owns 48,322 shares of the company’s stock, valued at $10,764,208.72. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Primerica

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its position in Primerica by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 12,506 shares of the financial services provider’s stock worth $3,164,000 after buying an additional 3,345 shares during the last quarter. Trust Point Inc. acquired a new stake in shares of Primerica during the 4th quarter worth approximately $339,000. Louisiana State Employees Retirement System acquired a new stake in shares of Primerica during the 4th quarter worth approximately $2,016,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Primerica by 136.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider’s stock worth $1,599,000 after purchasing an additional 3,649 shares during the period. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of Primerica by 25.5% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 2,226 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 452 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

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.