Primerica (NYSE:PRI) Hits New 1-Year High at $263.51

Primerica, Inc. (NYSE:PRI)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $263.51 and last traded at $262.89, with a volume of 11706 shares traded. The stock had previously closed at $261.18.

Wall Street Analyst Weigh In

PRI has been the subject of several recent research reports. Jefferies Financial Group raised their target price on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Morgan Stanley lifted their price objective on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods increased their target price on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. Finally, Truist Financial increased their price objective on Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Primerica presently has an average rating of “Hold” and a consensus price target of $273.25.

Primerica Stock Performance

The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 15.98 and a beta of 1.09. The company has a fifty day simple moving average of $247.14 and a two-hundred day simple moving average of $238.60.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, beating the consensus estimate of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The firm had revenue of $803.38 million during the quarter, compared to analyst estimates of $748.88 million. During the same period in the prior year, the firm posted $3.99 earnings per share. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, analysts expect that Primerica, Inc. will post 17.92 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Wednesday, August 21st will be given a $0.90 dividend. The ex-dividend date is Wednesday, August 21st. This is a boost from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a dividend yield of 1.37%. Primerica’s dividend payout ratio (DPR) is currently 21.91%.

Insider Buying and Selling

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction on 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 approximately $10,764,208.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 transaction, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $10,764,208.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,500 shares of company stock valued at $1,817,595. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

A number of large investors have recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new position in shares of Primerica during the 2nd quarter valued at approximately $30,000. Benjamin F. Edwards & Company Inc. grew its holdings in Primerica by 493.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 148 shares in the last quarter. Blue Trust Inc. increased 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 worth $49,000 after purchasing an additional 60 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Primerica in the 2nd quarter worth about $71,000. Finally, O Dell Group LLC acquired a new stake in shares of Primerica in the 4th quarter valued at about $153,000. 90.88% of the stock is owned by institutional investors and hedge funds.

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.