Primerica, Inc. (NYSE:PRI) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Primerica, Inc. (NYSE:PRI) have received a consensus rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Five investment 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 updated their coverage on the stock in the last year is $297.80.

A number of research firms have commented on PRI. Morgan Stanley increased their target price on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods boosted their price target on Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings raised Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th.

Primerica Stock Performance

Shares of PRI stock opened at $296.65 on Tuesday. Primerica has a one year low of $230.09 and a one year high of $297.23. The company’s 50-day simple moving average is $277.26 and its 200-day simple moving average is $265.71. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 12.44 and a beta of 0.88.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. The business had revenue of $872.30 million during the quarter, compared to the consensus estimate of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $5.02 earnings per share. As a group, research analysts forecast that Primerica will post 24.45 EPS for the current year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were paid a dividend of $1.20 per share. The ex-dividend date was Thursday, May 21st. This represents a $4.80 annualized dividend and a yield of 1.6%. Primerica’s payout ratio is presently 20.13%.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the sale, the chief executive officer directly owned 33,696 shares of the company’s stock, valued at approximately $9,451,391.04. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the transaction, the president owned 9,811 shares in the company, valued at approximately $2,743,548.04. The trade was a 15.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Primerica

A number of large investors have recently bought and sold shares of the business. Bank of Montreal Can grew its holdings in shares of Primerica by 5,277.5% during the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after purchasing an additional 1,287,243 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Primerica by 200.3% in the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after purchasing an additional 238,571 shares during the last quarter. Life Cycle Investment Partners Ltd bought a new stake in shares of Primerica in the 4th quarter worth approximately $40,714,000. Millennium Management LLC boosted its position in Primerica by 183.3% during the 4th quarter. Millennium Management LLC now owns 212,196 shares of the financial services provider’s stock valued at $54,823,000 after purchasing an additional 137,297 shares during the period. Finally, Danske Bank A S acquired a new position in Primerica during the 3rd quarter valued at approximately $30,396,000. Institutional investors 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.