Primerica, Inc. (NYSE:PRI) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Primerica, Inc. (NYSE:PRI) have been given an average rating of “Hold” by the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $298.60.

Several research firms have recently issued reports on PRI. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Zacks Research downgraded Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Finally, Morgan Stanley lowered their price target on Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total value of $454,284.00. Following the transaction, the president directly owned 11,611 shares in the company, valued at approximately $2,930,384.18. This represents a 13.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total transaction of $641,025.00. Following the completion of the transaction, the chief executive officer directly owned 27,392 shares in the company, valued at $7,023,582.72. This represents a 8.36% decrease in their position. The SEC filing for this sale provides additional information. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Primerica

A number of institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC purchased a new stake in shares of Primerica in the third quarter valued at approximately $27,000. Smartleaf Asset Management LLC increased its holdings in Primerica by 186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 69 shares during the period. V Square Quantitative Management LLC bought a new stake in Primerica during the 4th quarter valued at $30,000. Quent Capital LLC purchased a new stake in shares of Primerica in the 3rd quarter worth $33,000. Finally, Torren Management LLC bought a new position in shares of Primerica during the 4th quarter worth $50,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Stock Performance

PRI stock opened at $245.85 on Friday. The company’s fifty day moving average price is $258.52 and its 200-day moving average price is $261.85. Primerica has a one year low of $230.09 and a one year high of $296.00. The company has a market capitalization of $7.78 billion, a PE ratio of 10.72 and a beta of 0.92.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.69 by $0.44. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The firm had revenue of $853.51 million for the quarter, compared to analysts’ expectations of $839.65 million. During the same period in the previous year, the firm posted $5.03 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. On average, research analysts predict that Primerica will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, February 23rd were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio is 20.93%.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.