Primerica, Inc. (PRI) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Primerica, Inc. (NYSE:PRI) have been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $84.67.
PRI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $83.00 price objective on shares of Primerica in a research note on Friday, June 23rd. BidaskClub raised Primerica from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Wells Fargo & Company reissued a “hold” rating on shares of Primerica in a research note on Tuesday, August 8th. Finally, Zacks Investment Research lowered Primerica from a “hold” rating to a “sell” rating in a research note on Friday, August 11th.
Shares of Primerica (NYSE:PRI) traded up 1.33% on Friday, hitting $76.15. The stock had a trading volume of 512,117 shares. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 15.51 and a beta of 1.14. Primerica has a 52 week low of $52.50 and a 52 week high of $86.45. The firm has a 50 day moving average price of $77.76 and a 200-day moving average price of $78.75.
Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. The company had revenue of $413.70 million for the quarter, compared to analyst estimates of $410.97 million. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.23 earnings per share. Analysts anticipate that Primerica will post $5.22 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Primerica’s previous quarterly dividend of $0.19. Primerica’s payout ratio is presently 16.33%.
In other news, President Peter W. Schneider sold 1,301 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $76.92, for a total transaction of $100,072.92. Following the completion of the sale, the president now owns 28,138 shares in the company, valued at $2,164,374.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $80.68, for a total value of $242,040.00. Following the sale, the chief executive officer now owns 77,895 shares of the company’s stock, valued at approximately $6,284,568.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,301 shares of company stock valued at $495,113. 0.86% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Primerica by 0.3% during the second quarter. Vanguard Group Inc. now owns 5,085,927 shares of the financial services provider’s stock worth $385,260,000 after acquiring an additional 13,941 shares during the last quarter. BlackRock Inc. raised its position in shares of Primerica by 22,346.4% during the first quarter. BlackRock Inc. now owns 4,448,197 shares of the financial services provider’s stock worth $365,642,000 after acquiring an additional 4,428,380 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Primerica by 1.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,426,797 shares of the financial services provider’s stock worth $259,581,000 after acquiring an additional 54,537 shares during the last quarter. State Street Corp raised its position in shares of Primerica by 1.3% during the second quarter. State Street Corp now owns 1,780,565 shares of the financial services provider’s stock worth $134,879,000 after acquiring an additional 22,430 shares during the last quarter. Finally, FMR LLC raised its position in shares of Primerica by 10.7% during the first quarter. FMR LLC now owns 1,752,471 shares of the financial services provider’s stock worth $144,053,000 after acquiring an additional 169,689 shares during the last quarter. Institutional investors own 94.89% of the company’s stock.
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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