Primerica, Inc. (PRI) Receives Average Recommendation of “Hold” from Brokerages
Primerica, Inc. (NYSE:PRI) has earned an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $87.50.
PRI has been the topic of several analyst reports. BidaskClub upgraded shares of Primerica from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of Primerica from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods restated a “hold” rating and set a $83.00 price target on shares of Primerica in a research report on Friday, June 23rd. Finally, Wells Fargo & Company restated a “hold” rating on shares of Primerica in a research report on Tuesday, August 8th.
In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $80.68, for a total transaction of $242,040.00. Following the transaction, the chief executive officer now directly owns 77,895 shares of the company’s stock, valued at $6,284,568.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Alison S. Rand sold 2,000 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $76.50, for a total transaction of $153,000.00. Following the transaction, the vice president now directly owns 35,385 shares in the company, valued at $2,706,952.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,301 shares of company stock worth $495,113. Insiders own 0.86% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Mountain Capital Investment Advisors Inc purchased a new position in Primerica during the second quarter valued at $125,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Primerica by 13.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 242 shares in the last quarter. Flinton Capital Management LLC lifted its holdings in Primerica by 69.5% during the second quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 912 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in Primerica by 68.7% during the second quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. purchased a new position in Primerica during the second quarter valued at $211,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.
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Primerica (PRI) traded up 0.87% on Wednesday, hitting $87.25. 284,873 shares of the company were exchanged. The company has a market capitalization of $3.92 billion, a P/E ratio of 17.77 and a beta of 1.17. Primerica has a 52 week low of $52.75 and a 52 week high of $87.25. The firm’s 50 day moving average is $78.08 and its 200 day moving average is $78.66.
Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 net margin of 14.41% and a return on equity of 18.48%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the business earned $1.23 earnings per share. On average, equities research analysts forecast that Primerica will post $5.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 18th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.92%. This is an increase from Primerica’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Wednesday, August 16th. Primerica’s dividend payout ratio (DPR) is presently 16.33%.
Primerica Company Profile
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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