Primerica, Inc. (NYSE:PRI) Given Average Rating of “Hold” by Brokerages

Shares of Primerica, Inc. (NYSE:PRI) have been given a consensus rating of “Hold” by the eight brokerages that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $293.60.

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $290.00 price objective on shares of Primerica in a research note on Thursday, March 26th. TD Cowen restated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Finally, Morgan Stanley reduced their price objective on Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd.

Primerica Stock Performance

Shares of PRI stock opened at $282.14 on Thursday. Primerica has a fifty-two week low of $230.09 and a fifty-two week high of $288.03. The stock’s fifty day moving average is $257.39 and its two-hundred day moving average is $259.71. The firm has a market capitalization of $8.93 billion, a P/E ratio of 12.30 and a beta of 0.90.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.69 by $0.44. The business had revenue of $853.51 million during the quarter, compared to analyst estimates of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.03 earnings per share. On average, equities analysts forecast that Primerica will post 23.84 earnings per share for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were issued a dividend of $1.20 per share. The ex-dividend date was Monday, February 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. This is a boost from Primerica’s previous quarterly dividend of $1.04. Primerica’s payout ratio is presently 20.93%.

Insider Activity

In other news, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total transaction of $454,284.00. Following the transaction, the president owned 11,611 shares of the company’s stock, valued at approximately $2,930,384.18. The trade was a 13.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total transaction of $641,025.00. Following the sale, the chief executive officer owned 27,392 shares of the company’s stock, valued at approximately $7,023,582.72. The trade was a 8.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.63% of the company’s stock.

Institutional Trading of Primerica

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC grew its position in Primerica by 20.6% in the first quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 366 shares during the period. Goldman Sachs Group Inc. raised its position in Primerica by 27.7% in the first quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock valued at $36,894,000 after purchasing an additional 28,129 shares during the period. Empowered Funds LLC purchased a new stake in Primerica in the first quarter valued at $1,763,000. Focus Partners Wealth lifted its stake in shares of Primerica by 17.5% in the 1st quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 208 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Primerica by 205.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

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.