Primerica, Inc. (NYSE:PRI) Receives $308.00 Consensus PT from Analysts

Primerica, Inc. (NYSE:PRI) has been given an average rating of “Hold” by the seven research firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $308.00.

A number of equities analysts have weighed in on PRI shares. Keefe, Bruyette & Woods lowered their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 9th. Wall Street Zen lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Finally, Morgan Stanley upped their price target on Primerica from $274.00 to $296.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th.

Insider Buying and Selling

In related news, insider Nicholas Adam Jendusa sold 234 shares of the 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 transaction, the insider now owns 200 shares of the company’s stock, valued at approximately $56,030. This represents a 53.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was 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. The trade was a 13.07% decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Primerica

Several hedge funds have recently bought and sold shares of the company. Barclays PLC increased its holdings in Primerica by 108.1% during the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock worth $5,428,000 after purchasing an additional 10,635 shares during the period. Ballentine Partners LLC increased its holdings in Primerica by 10.9% during the 4th quarter. Ballentine Partners LLC now owns 899 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 88 shares during the period. Mutual Advisors LLC increased its holdings in Primerica by 10.8% during the 4th quarter. Mutual Advisors LLC now owns 1,394 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 136 shares during the period. Exchange Traded Concepts LLC increased its holdings in Primerica by 3.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,959 shares of the financial services provider’s stock worth $803,000 after purchasing an additional 100 shares during the period. Finally, Blue Trust Inc. increased its holdings in Primerica by 44.7% during the 4th quarter. Blue Trust Inc. now owns 965 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 298 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Stock Performance

NYSE PRI opened at $270.54 on Monday. The stock’s fifty day moving average is $266.12 and its two-hundred day moving average is $278.99. The firm has a market capitalization of $8.95 billion, a P/E ratio of 19.68 and a beta of 1.02. Primerica has a fifty-two week low of $219.52 and a fifty-two week high of $307.91.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share for the quarter, topping analysts’ consensus estimates of $4.77 by $0.25. The company had revenue of $803.56 million for the quarter, compared to analyst estimates of $783.54 million. Primerica had a return on equity of 31.11% and a net margin of 15.14%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.91 earnings per share. As a group, sell-side analysts forecast that Primerica will post 20.6 EPS for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Thursday, May 22nd. Primerica’s dividend payout ratio (DPR) is presently 27.98%.

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.