Primerica (NYSE:PRI) Reaches New 1-Year High Following Analyst Upgrade

Shares of Primerica, Inc. (NYSE:PRI) reached a new 52-week high during mid-day trading on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $305.00 to $323.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Primerica traded as high as $308.55 and last traded at $308.7250, with a volume of 170354 shares changing hands. The stock had previously closed at $304.56.

A number of other equities analysts also recently commented on the company. Jefferies Financial Group boosted their price objective on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Finally, Morgan Stanley lifted their price target on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $298.40.

Insider Activity at Primerica

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the transaction, the president directly owned 9,811 shares in the company, valued at $2,743,548.04. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the transaction, the chief executive officer owned 33,696 shares in the company, valued at $9,451,391.04. This represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vista Investment Partners II LLC acquired a new stake in Primerica during the 4th quarter worth $1,685,000. M&T Bank Corp boosted its stake in Primerica by 1,155.8% in the fourth quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock valued at $8,303,000 after acquiring an additional 29,578 shares in the last quarter. Prana Capital Management LP grew its holdings in shares of Primerica by 22.8% during the third quarter. Prana Capital Management LP now owns 66,916 shares of the financial services provider’s stock worth $18,575,000 after purchasing an additional 12,432 shares during the last quarter. Moran Wealth Management LLC grew its holdings in shares of Primerica by 168.6% during the fourth quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock worth $5,302,000 after purchasing an additional 12,881 shares during the last quarter. Finally, Arbejdsmarkedets Tillaegspension purchased a new position in shares of Primerica during the fourth quarter worth about $23,767,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Price Performance

The stock has a 50-day moving average price of $279.50 and a 200 day moving average price of $267.30. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 12.99 and a beta of 0.88.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, beating the consensus estimate of $5.45 by $0.51. The business had revenue of $872.30 million during the quarter, compared to the consensus estimate of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $5.02 EPS. As a group, equities research analysts predict that Primerica, Inc. will post 24.51 earnings per share for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were paid a $1.20 dividend. The ex-dividend date was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. Primerica’s payout ratio is currently 20.13%.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.