Primerica, Inc. (NYSE:PRI) Stock Has Average Price Target of $319.80

Shares of Primerica, Inc. (NYSE:PRI) have received a consensus rating of “Hold” from the seven research firms that are currently 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 1-year price target among brokers that have updated their coverage on the stock in the last year is $318.80.

Several equities research analysts have recently weighed in on PRI shares. Morgan Stanley increased their price objective on Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a report on Monday, August 24th. TD Cowen lifted their target price on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Jefferies Financial Group lifted their target price on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Weiss Ratings downgraded shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, Truist Financial reiterated a “hold” rating and set a $320.00 price target (down from $370.00) on shares of Primerica in a research note on Thursday, August 27th.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 1,500 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $320.20, for a total value of $480,300.00. Following the transaction, the chief executive officer owned 32,196 shares in the company, valued at $10,309,159.20. The trade was a 4.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $312.65, for a total value of $562,770.00. Following the sale, the president directly owned 8,011 shares of the company’s stock, valued at approximately $2,504,639.15. This represents a 18.35% 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. Over the last quarter, insiders sold 3,579 shares of company stock worth $1,130,573. Company insiders own 0.63% of the company’s stock.

Institutional Trading of Primerica

A number of hedge funds have recently added to or reduced their stakes in the stock. Diversified Management Inc. acquired a new position in shares of Primerica in the third quarter valued at approximately $1,780,000. GAMMA Investing LLC raised its stake in shares of Primerica by 62.6% during the third quarter. GAMMA Investing LLC now owns 5,315 shares of the financial services provider’s stock worth $1,448,000 after purchasing an additional 2,047 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Primerica by 31.6% during the third quarter. Farther Finance Advisors LLC now owns 471 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 113 shares during the last quarter. Vista Investment Partners LLC lifted its holdings in shares of Primerica by 6.2% during the third quarter. Vista Investment Partners LLC now owns 16,360 shares of the financial services provider’s stock worth $4,457,000 after purchasing an additional 948 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Primerica by 12.5% during the third quarter. Versant Capital Management Inc now owns 405 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 45 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Performance

PRI opened at $275.12 on Thursday. Primerica has a one year low of $230.09 and a one year high of $327.28. The stock has a market capitalization of $8.47 billion, a P/E ratio of 11.05 and a beta of 0.88. The business’s 50-day simple moving average is $293.55 and its 200-day simple moving average is $285.03.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. The firm had revenue of $865.07 million during the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $5.46 EPS. On average, equities research analysts forecast that Primerica will post 25.23 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Friday, August 21st were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 21st. Primerica’s dividend payout ratio is presently 19.28%.

About Primerica

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

Primerica’s offerings include term life insurance, investment and savings products, retirement solutions, annuities and other financial services. Through its affiliated businesses and representatives, the company also provides access to products and services designed to help clients manage debt and pursue long-term financial goals.

The company was founded in 1977 as A.L.