Primerica, Inc. (NYSE:PRI) Given Consensus Recommendation of “Hold” by Analysts

Shares of Primerica, Inc. (NYSE:PRI) have been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $293.50.

Several equities analysts have recently commented on the stock. Truist Financial boosted their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Morgan Stanley increased their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Finally, Piper Sandler assumed coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective on the stock.

Primerica Trading Down 0.0 %

Shares of NYSE PRI opened at $295.59 on Monday. Primerica has a 12-month low of $184.76 and a 12-month high of $307.91. The firm has a market capitalization of $9.86 billion, a price-to-earnings ratio of 22.58 and a beta of 1.09. The firm has a 50 day moving average of $286.19 and a 200 day moving average of $259.73.

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

Primerica announced that its board has authorized a stock buyback plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, November 21st. Primerica’s payout ratio is 27.50%.

Insider Activity at Primerica

In related news, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the sale, the director now directly owns 15,151 shares of the company’s stock, valued at $3,846,081.35. This represents a 11.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC boosted its position in Primerica by 30,726.7% in the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock valued at $161,102,000 after buying an additional 678,752 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Primerica by 66.3% during the second quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock valued at $23,601,000 after acquiring an additional 39,761 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Primerica by 2,986.9% in the second quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider’s stock valued at $7,595,000 after purchasing an additional 31,064 shares during the period. Strategic Financial Concepts LLC bought a new position in Primerica in the second quarter worth approximately $71,000. Finally, Geode Capital Management LLC increased its holdings in Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after purchasing an additional 25,951 shares during the period. 90.88% of the stock is currently owned by institutional investors.

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.