Primerica (NYSE:PRI) Sets New 52-Week High at $259.03

Primerica, Inc. (NYSE:PRI)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $259.03 and last traded at $259.03, with a volume of 4049 shares traded. The stock had previously closed at $256.51.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their price objective on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Jefferies Financial Group boosted their target price on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley dropped their price target on Primerica from $245.00 to $243.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Truist Financial lifted their target price on shares of Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $266.75.

Primerica Price Performance

The firm has a market cap of $8.74 billion, a PE ratio of 15.61 and a beta of 1.09. The company has a 50 day simple moving average of $240.50 and a 200-day simple moving average of $236.77.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping the consensus estimate of $4.47 by $0.24. The company had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.99 earnings per share. On average, sell-side analysts predict that Primerica, Inc. will post 17.83 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Wednesday, August 21st will be paid a $0.90 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date is Wednesday, August 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.39%. Primerica’s dividend payout ratio (DPR) is presently 18.26%.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica 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 sale, the chief executive officer now 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 available at the SEC website. In other news, 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 value of $668,280.00. Following the completion of the transaction, the chief executive officer now owns 48,322 shares in the company, valued at approximately $10,764,208.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $227.44, for a total value of $341,160.00. Following the sale, the president now owns 11,759 shares in the company, valued at $2,674,466.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,500 shares of company stock valued at $1,767,090. 0.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Burgundy Asset Management Ltd. raised its stake in Primerica by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock valued at $292,688,000 after buying an additional 17,095 shares during the last quarter. Millennium Management LLC raised its position in shares of Primerica by 30,726.7% in the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after purchasing an additional 678,752 shares during the last quarter. Lyrical Asset Management LP boosted its stake in Primerica by 1.5% in the 4th quarter. Lyrical Asset Management LP now owns 663,783 shares of the financial services provider’s stock worth $136,580,000 after purchasing an additional 9,923 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Primerica by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock valued at $150,880,000 after purchasing an additional 21,836 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in Primerica by 4.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 229,084 shares of the financial services provider’s stock valued at $47,136,000 after purchasing an additional 9,198 shares in the last quarter. 90.88% of the stock is currently owned by 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.