Primerica, Inc. (NYSE:PRI) Receives $300.00 Consensus Target Price from Analysts

Shares of Primerica, Inc. (NYSE:PRI) have been given a consensus rating of “Hold” by the seven ratings firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $300.00.

Several research firms have commented on PRI. Keefe, Bruyette & Woods reduced their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Tuesday, November 11th. Piper Sandler set a $292.00 price target on Primerica and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. BMO Capital Markets raised Primerica from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $292.00 to $318.00 in a report on Tuesday, September 23rd. Morgan Stanley set a $292.00 price objective on shares of Primerica in a research note on Monday, December 15th. Finally, Zacks Research downgraded shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th.

Primerica Stock Performance

Shares of Primerica stock opened at $265.55 on Tuesday. The company has a market capitalization of $8.48 billion, a P/E ratio of 12.20 and a beta of 0.90. Primerica has a 1 year low of $230.98 and a 1 year high of $298.75. The company’s fifty day moving average is $258.00 and its two-hundred day moving average is $264.64.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 EPS for the quarter, beating analysts’ consensus estimates of $5.52 by $0.81. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The business had revenue of $838.88 million during the quarter, compared to analysts’ expectations of $817.81 million. During the same period in the prior year, the company earned $4.83 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts expect that Primerica will post 20.6 earnings per share for the current year.

Primerica announced that its Board of Directors has approved a share buyback plan on Wednesday, November 19th that permits the company to repurchase $475.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 21st were given a $1.04 dividend. The ex-dividend date was Friday, November 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. Primerica’s dividend payout ratio (DPR) is presently 19.12%.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $255.30, for a total transaction of $510,600.00. Following the transaction, the president owned 7,301 shares in the company, valued at approximately $1,863,945.30. The trade was a 21.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joel M. Babbit sold 700 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $255.00, for a total value of $178,500.00. Following the transaction, the director directly owned 8,400 shares of the company’s stock, valued at approximately $2,142,000. This trade represents a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 5,200 shares of company stock worth $1,338,225. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Primerica

Several institutional investors have recently made changes to their positions in PRI. Olympiad Research LP increased its holdings in Primerica by 3.9% in the second quarter. Olympiad Research LP now owns 1,061 shares of the financial services provider’s stock valued at $290,000 after buying an additional 40 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of Primerica by 1.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock worth $1,058,000 after acquiring an additional 45 shares during the period. Ascent Group LLC grew its holdings in shares of Primerica by 6.5% in the 3rd quarter. Ascent Group LLC now owns 836 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 51 shares during the period. Vident Advisory LLC increased its stake in Primerica by 3.2% in the 2nd quarter. Vident Advisory LLC now owns 1,776 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 55 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in Primerica by 0.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 22,844 shares of the financial services provider’s stock worth $6,252,000 after purchasing an additional 60 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

About Primerica

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.