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.com reports. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $103.00.

PRI has been the topic of several research reports. SunTrust Banks boosted their price target on Primerica to $112.00 and gave the stock a “hold” rating in a report on Monday, January 22nd. ValuEngine upgraded Primerica from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Wells Fargo & Co restated a “market perform” rating and set a $100.00 price target (up from $95.00) on shares of Primerica in a report on Tuesday, January 9th. Keefe, Bruyette & Woods restated a “hold” rating and set a $95.00 price target on shares of Primerica in a report on Friday, November 10th. Finally, Zacks Investment Research cut Primerica from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th.

Primerica (NYSE:PRI) traded up $0.87 during trading on Tuesday, reaching $96.02. The company’s stock had a trading volume of 79,414 shares, compared to its average volume of 205,310. Primerica has a 1 year low of $70.00 and a 1 year high of $108.05. The company has a market capitalization of $4,250.00, a PE ratio of 12.59, a PEG ratio of 1.40 and a beta of 1.14.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, February 7th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.17. Primerica had a return on equity of 19.47% and a net margin of 20.74%. The firm had revenue of $442.94 million for the quarter, compared to analysts’ expectations of $435.87 million. During the same quarter in the previous year, the business posted $1.19 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. sell-side analysts forecast that Primerica will post 6.88 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.25 per share. This is a boost from Primerica’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Wednesday, February 14th. Primerica’s payout ratio is 10.50%.

Primerica announced that its board has authorized a stock buyback program on Wednesday, February 7th that permits the company to buyback $225.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Large investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its stake in shares of Primerica by 9.5% in the second quarter. New York State Common Retirement Fund now owns 68,266 shares of the financial services provider’s stock worth $5,171,000 after acquiring an additional 5,949 shares during the period. Suntrust Banks Inc. acquired a new position in shares of Primerica in the second quarter worth approximately $293,000. OxFORD Asset Management LLP acquired a new position in shares of Primerica in the second quarter worth approximately $567,000. Balyasny Asset Management LLC lifted its stake in shares of Primerica by 0.8% in the second quarter. Balyasny Asset Management LLC now owns 12,712 shares of the financial services provider’s stock worth $963,000 after acquiring an additional 100 shares during the period. Finally, Flinton Capital Management LLC lifted its stake in shares of Primerica by 69.5% in the second quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 912 shares during the period. Institutional investors own 94.36% of the company’s stock.

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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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