Primerica (NYSE:PRI) Sets New 52-Week High at $259.03

Primerica, Inc. (NYSE:PRI) shares hit a new 52-week high during trading on Thursday . The company traded as high as $259.03 and last traded at $259.03, with a volume of 4049 shares. The stock had previously closed at $256.51.

Analyst Ratings Changes

PRI has been the topic of several analyst reports. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a report on Wednesday. Truist Financial raised their price objective on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Morgan Stanley decreased their target price on shares of Primerica from $245.00 to $243.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Jefferies Financial Group increased their price target on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $266.75.

Primerica Price Performance

The company’s fifty day simple moving average is $240.50 and its 200-day simple moving average is $236.77. The firm has a market capitalization of $8.74 billion, a PE ratio of 15.61 and a beta of 1.09.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. During the same period last year, the company posted $3.99 EPS. Primerica’s quarterly revenue was up 16.7% compared to the same quarter last year. Analysts forecast that Primerica, Inc. will post 17.83 earnings per share for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Wednesday, August 21st will be paid a $0.90 dividend. This is an increase from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a yield of 1.39%. The ex-dividend date is Wednesday, August 21st. Primerica’s dividend payout ratio is currently 18.26%.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $222.76, for a total transaction of $668,280.00. Following the completion of the sale, the chief executive officer now owns 48,322 shares of the company’s stock, valued at $10,764,208.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $222.76, for a total transaction of $668,280.00. Following the transaction, the chief executive officer now directly owns 48,322 shares in the company, valued at $10,764,208.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $227.44, for a total transaction of $341,160.00. Following the completion of the sale, the president now owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,500 shares of company stock worth $1,767,090. Corporate insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Primerica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its holdings in shares of Primerica by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 12,506 shares of the financial services provider’s stock worth $3,164,000 after acquiring an additional 3,345 shares during the period. Blair William & Co. IL raised its stake in Primerica by 24.5% during the first quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock worth $3,076,000 after purchasing an additional 2,393 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Primerica by 456.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock valued at $2,164,000 after purchasing an additional 7,506 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Primerica by 136.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider’s stock valued at $1,599,000 after buying an additional 3,649 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Primerica during the 4th quarter worth approximately $2,016,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.