Primerica, Inc. (NYSE:PRI) Receives $300.00 Average Price Target from Brokerages

Primerica, Inc. (NYSE:PRI) has earned an average rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $300.00.

Several equities research analysts recently weighed in on PRI shares. Weiss Ratings restated a “buy (b-)” rating on shares of Primerica in a research report on Monday, December 29th. Morgan Stanley set a $292.00 target price on shares of Primerica in a report on Monday, December 15th. BMO Capital Markets raised shares of Primerica from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $292.00 to $318.00 in a research report on Tuesday, September 23rd. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Piper Sandler set a $292.00 price objective on shares of Primerica and gave the stock a “neutral” rating in a report on Tuesday, October 7th.

Primerica Price Performance

Shares of NYSE PRI opened at $267.66 on Tuesday. Primerica has a 1 year low of $230.98 and a 1 year high of $298.75. The company’s 50-day moving average is $257.92 and its 200 day moving average is $264.64. The stock has a market capitalization of $8.54 billion, a P/E ratio of 12.30 and a beta of 0.90.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $817.81 million. During the same period last year, the business posted $4.83 earnings per share. Primerica’s quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts anticipate that Primerica will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

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

Primerica declared that its board has authorized a share buyback plan on Wednesday, November 19th that authorizes the company to buyback $475.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $255.30, for a total value of $510,600.00. Following the sale, the president directly owned 7,301 shares of the company’s stock, valued at approximately $1,863,945.30. The trade was a 21.50% decrease in their ownership of the stock. The transaction 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 on Wednesday, November 12th. The shares were sold at an average price of $259.65, for a total value of $649,125.00. Following the transaction, the chief executive officer owned 33,892 shares of the company’s stock, valued at $8,800,057.80. The trade was a 6.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 5,200 shares of company stock valued at $1,338,225. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Atria Investments Inc boosted its position in shares of Primerica by 27.6% during the second quarter. Atria Investments Inc now owns 12,650 shares of the financial services provider’s stock valued at $3,462,000 after buying an additional 2,740 shares during the last quarter. Aviva PLC bought a new position in Primerica during the 2nd quarter valued at about $514,000. Entropy Technologies LP purchased a new stake in shares of Primerica during the 2nd quarter valued at about $876,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Primerica by 3.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,366 shares of the financial services provider’s stock valued at $41,930,000 after acquiring an additional 4,687 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Primerica by 72.8% in the first quarter. Voya Investment Management LLC now owns 8,683 shares of the financial services provider’s stock worth $2,471,000 after acquiring an additional 3,657 shares during the period. 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.