Brokerages Set Primerica, Inc. (NYSE:PRI) Price Target at $315.57

Shares of Primerica, Inc. (NYSE:PRI) have been assigned an average recommendation of “Hold” from the nine analysts that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $315.5714.

Several equities research analysts recently commented on the stock. Truist Financial reaffirmed a “hold” rating and issued a $320.00 price objective (down from $370.00) on shares of Primerica in a research report on Thursday, August 27th. Jefferies Financial Group increased their target price on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Morgan Stanley lifted their price target on Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a research note on Monday, August 24th. Weiss Ratings lowered Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods upped their price objective on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th.

Primerica Stock Performance

Shares of PRI stock opened at $293.20 on Friday. Primerica has a 52 week low of $230.09 and a 52 week high of $327.28. The company’s 50 day moving average price is $305.59 and its two-hundred day moving average price is $282.13. The company has a market capitalization of $9.02 billion, a P/E ratio of 11.78 and a beta of 0.86.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.38. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The company had revenue of $865.07 million during the quarter, compared to analysts’ expectations of $881.00 million. During the same quarter in the prior year, the company earned $5.46 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts forecast that Primerica will post 25.2 earnings per share for the current year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 21st were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 21st. Primerica’s dividend payout ratio (DPR) is currently 19.28%.

Insider Transactions at Primerica

In other news, Director Amber Cottle sold 279 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total value of $87,502.77. Following the sale, the director owned 3,549 shares of the company’s stock, valued at $1,113,072.87. The trade was a 7.29% 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, President Peter W. Schneider sold 1,800 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $312.65, for a total transaction of $562,770.00. Following the transaction, the president owned 8,011 shares of the company’s stock, valued at $2,504,639.15. The trade was a 18.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,579 shares of company stock valued at $1,130,573 in the last ninety days. 0.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primerica

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP boosted its stake in shares of Primerica by 76.8% during the 2nd quarter. Engineers Gate Manager LP now owns 13,109 shares of the financial services provider’s stock worth $3,726,000 after buying an additional 5,694 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Primerica by 51.2% in the 2nd quarter. Squarepoint Ops LLC now owns 28,570 shares of the financial services provider’s stock valued at $8,120,000 after acquiring an additional 9,678 shares in the last quarter. Nykredit A S acquired a new stake in shares of Primerica in the second quarter valued at about $356,000. Corient Private Wealth LP raised its holdings in Primerica by 1.7% during the second quarter. Corient Private Wealth LP now owns 23,203 shares of the financial services provider’s stock worth $6,594,000 after acquiring an additional 383 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in Primerica by 15.3% during the second quarter. HighTower Advisors LLC now owns 7,363 shares of the financial services provider’s stock worth $2,093,000 after acquiring an additional 975 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

About Primerica

Primerica, Inc is a financial services company that helps middle-income households in the United States and Canada address their insurance, investment and retirement needs. The company primarily distributes its products through a network of independent representatives who provide financial education and assistance to clients.

Primerica’s principal offerings include term life insurance, mutual funds and other investment products, annuities, managed investments and retirement solutions. Through its subsidiaries and affiliated providers, the company also offers products and services related to mortgage lending, debt consolidation and other financial needs.

The company was founded in 1977 as A.L.