Jefferies Financial Group Boosts Primerica (NYSE:PRI) Price Target to $249.00

Primerica (NYSE:PRI) had its price objective boosted by Jefferies Financial Group from $239.00 to $249.00 in a report released on Thursday morning, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods upped 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. StockNews.com lowered shares of Primerica from a buy rating to a hold rating in a research note on Tuesday, May 7th. Finally, Morgan Stanley lowered their price objective on shares of Primerica from $245.00 to $243.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $260.50.

Primerica Trading Down 1.2 %

NYSE PRI opened at $248.55 on Thursday. The company’s 50-day moving average price is $231.98 and its 200-day moving average price is $233.04. 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 Announces Dividend

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

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction dated 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 sale, the president now directly owns 11,759 shares of the company’s stock, valued at $2,674,466.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $222.76, for a total transaction of $668,280.00. Following the completion of the sale, the chief executive officer now directly owns 48,322 shares of the company’s stock, valued at $10,764,208.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Peter W. Schneider sold 1,500 shares of the 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 $2,674,466.96. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Primerica

Several hedge funds and other institutional investors have recently modified their holdings of PRI. ORG Partners LLC purchased a new position in shares of Primerica in the 4th quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 148 shares during the last quarter. Blue Trust Inc. raised its position in shares of 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 last quarter. GAMMA Investing LLC purchased a new position in shares of Primerica in the 4th quarter valued at approximately $133,000. Finally, O Dell Group LLC purchased a new position in shares of Primerica in the 4th quarter valued at approximately $153,000. 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.