Primerica (NYSE:PRI) Price Target Raised to $340.00 at Truist Financial

Primerica (NYSE:PRI) had its price target hoisted by Truist Financial from $300.00 to $340.00 in a research report released on Friday,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also recently commented on PRI. Morgan Stanley increased their price target on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Keefe, Bruyette & Woods boosted their price target on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. TD Cowen began coverage on Primerica in a research note on Wednesday, October 9th. They issued a “buy” rating and a $314.00 price target on the stock. Finally, Piper Sandler assumed coverage on shares of Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective for the company. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $288.33.

Primerica Stock Up 2.4 %

PRI traded up $7.08 during trading hours on Friday, hitting $297.73. 177,826 shares of the company’s stock were exchanged, compared to its average volume of 155,150. Primerica has a 1-year low of $184.76 and a 1-year high of $298.29. The stock’s 50-day moving average is $269.64 and its two-hundred day moving average is $248.28. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 22.74 and a beta of 1.08.

Primerica (NYSE:PRI) last released its earnings results 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. Primerica had a return on equity of 30.28% and a net margin of 14.95%. The business had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. During the same quarter in the previous year, the business earned $3.99 earnings per share. Primerica’s quarterly revenue was up 16.7% on a year-over-year basis. On average, equities research analysts anticipate that Primerica will post 18.13 EPS for the current year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is currently 27.50%.

Insider Activity at Primerica

In related news, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the transaction, the director now directly owns 15,151 shares of the company’s stock, valued at $3,846,081.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the sale, the president now directly owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the sale, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock valued at $1,657,015 over the last quarter. 0.85% of the stock is owned by corporate insiders.

Institutional Trading of Primerica

Several institutional investors have recently modified their holdings of the business. Blair William & Co. IL lifted its holdings in Primerica by 24.5% during the 1st quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock worth $3,076,000 after buying an additional 2,393 shares during the period. Harbor Capital Advisors Inc. increased its position in Primerica by 456.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock valued at $2,164,000 after purchasing an additional 7,506 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in 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 last quarter. Edgestream Partners L.P. acquired a new position in shares of Primerica in the 1st quarter worth approximately $979,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Primerica in the 2nd quarter valued at $3,514,000. Institutional investors own 90.88% of the company’s stock.

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.