Brokerages Set Primerica, Inc. (NYSE:PRI) Price Target at $296.33

Shares of Primerica, Inc. (NYSE:PRI) have been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat 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 analysts that have updated their coverage on the stock in the last year is $296.33.

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. TD Cowen raised their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler dropped their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, Truist Financial increased their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th.

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 that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

Several hedge funds have recently added to or reduced their stakes in PRI. V Square Quantitative Management LLC bought a new position in Primerica during the 3rd quarter worth $31,000. Prospera Private Wealth LLC acquired a new position in shares of Primerica in the third quarter valued at about $31,000. UMB Bank n.a. increased its position in Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares during the period. Larson Financial Group LLC raised its stake in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in Primerica in the 2nd quarter valued at about $71,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Performance

Shares of Primerica stock opened at $271.76 on Friday. Primerica has a 52-week low of $184.76 and a 52-week high of $307.91. The business’s 50 day simple moving average is $286.26 and its 200 day simple moving average is $265.85. The firm has a market cap of $9.07 billion, a PE ratio of 20.76 and a beta of 1.09.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. During the same period last year, the company earned $4.28 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts predict that Primerica will post 19.32 EPS for the current year.

Primerica declared that its board has approved a share buyback program on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

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.