Primerica, Inc. (NYSE:PRI) Receives $309.86 Average Target Price from Brokerages

Primerica, Inc. (NYSE:PRI) has received a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $309.86.

PRI has been the topic of several analyst reports. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Piper Sandler dropped their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. BMO Capital Markets began coverage on Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley cut their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th.

Primerica Stock Down 0.9 %

PRI opened at $287.94 on Wednesday. The business has a 50 day moving average price of $285.15 and a two-hundred day moving average price of $280.19. Primerica has a 52 week low of $184.76 and a 52 week high of $307.91. The company has a market cap of $9.57 billion, a PE ratio of 20.94 and a beta of 1.12.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. As a group, sell-side analysts expect that Primerica will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.44%. This is a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s dividend payout ratio is presently 30.25%.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the sale, the insider now owns 200 shares of the company’s stock, valued at approximately $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,234 shares of company stock worth $1,476,575. Insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

Hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its stake in Primerica by 2.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 10,243 shares of the financial services provider’s stock worth $2,716,000 after buying an additional 292 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Primerica by 11.8% during the 3rd quarter. Assetmark Inc. now owns 1,461 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 154 shares during the period. Atria Investments Inc boosted its position in shares of Primerica by 8.0% in the third quarter. Atria Investments Inc now owns 8,950 shares of the financial services provider’s stock worth $2,373,000 after acquiring an additional 662 shares during the last quarter. Axxcess Wealth Management LLC purchased a new stake in Primerica in the third quarter valued at approximately $221,000. Finally, Crossmark Global Holdings Inc. increased its position in Primerica by 106.6% during the third quarter. Crossmark Global Holdings Inc. now owns 4,680 shares of the financial services provider’s stock worth $1,241,000 after purchasing an additional 2,415 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

About Primerica

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.