Primerica (NYSE:PRI) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Primerica (NYSE:PRI) from a buy rating to a hold rating in a report released on Thursday morning.

PRI has been the topic of a number of other reports. Jefferies Financial Group upped their target price on shares of Primerica from $239.00 to $249.00 and gave the stock a hold rating in a research report on Thursday, July 18th. Truist Financial increased their price objective on Primerica from $275.00 to $300.00 and gave the company a buy rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods boosted their target price on Primerica from $255.00 to $275.00 and gave the stock a market perform rating in a research report on Wednesday, July 17th. Morgan Stanley raised their price target on Primerica from $257.00 to $269.00 and gave the company an equal weight rating in a report on Monday, August 19th. Finally, Piper Sandler initiated coverage on Primerica in a report on Friday, August 30th. They set a neutral rating and a $283.00 price objective for the company. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $275.20.

Primerica Trading Up 0.5 %

Primerica stock opened at $254.62 on Thursday. Primerica has a 1-year low of $184.76 and a 1-year high of $265.27. The firm’s fifty day simple moving average is $252.18 and its 200-day simple moving average is $239.61. The company has a market capitalization of $8.61 billion, a P/E ratio of 15.50 and a beta of 1.09.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The firm had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The company’s revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.99 EPS. On average, equities research analysts predict that Primerica will post 17.94 earnings per share for the current year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Wednesday, August 21st. Primerica’s dividend payout ratio is presently 21.91%.

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the transaction, the president now directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the sale, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the transaction, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,500 shares of company stock worth $1,657,015. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Primerica

Several institutional investors have recently bought and sold shares of PRI. Burgundy Asset Management Ltd. increased its stake in shares of Primerica by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock worth $292,688,000 after purchasing an additional 17,095 shares during the last quarter. Millennium Management LLC increased its position in Primerica by 30,726.7% in the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after buying an additional 678,752 shares during the last quarter. Lyrical Asset Management LP raised its stake in shares of Primerica by 1.5% in the fourth quarter. Lyrical Asset Management LP now owns 663,783 shares of the financial services provider’s stock valued at $136,580,000 after buying an additional 9,923 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Primerica by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock valued at $150,880,000 after buying an additional 21,836 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Primerica by 4.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 229,084 shares of the financial services provider’s stock valued at $47,136,000 after buying an additional 9,198 shares during the last quarter. Institutional investors 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.