Primerica (NYSE:PRI) Hits New 12-Month High – Still a Buy?

Primerica, Inc. (NYSE:PRI)’s share price hit a new 52-week high on Wednesday . The company traded as high as $289.10 and last traded at $288.3450, with a volume of 10191 shares trading hands. The stock had previously closed at $284.20.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Keefe, Bruyette & Woods lifted their price target on Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Finally, Morgan Stanley boosted their price target on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Primerica has an average rating of “Hold” and a consensus target price of $297.80.

Primerica Stock Up 2.2%

The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 12.18 and a beta of 0.88. The business’s 50-day moving average is $276.33 and its two-hundred day moving average is $264.97.

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

Primerica Announces Dividend

The business also recently disclosed 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 of this dividend was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Primerica’s payout ratio is 20.13%.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 1,500 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the completion of the sale, the chief executive officer 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 SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were 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 $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 owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new position in Primerica in the fourth quarter worth approximately $30,000. SJS Investment Consulting Inc. lifted its stake in shares of Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 74 shares during the last quarter. Root Financial Partners LLC lifted its stake in shares of Primerica by 52.6% in the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 61 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Primerica by 68.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 73 shares during the period. Finally, Torren Management LLC acquired a new stake in shares of Primerica during the 4th quarter worth about $50,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

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.