Primerica (NYSE:PRI) Given New $260.00 Price Target at Keefe, Bruyette & Woods

Primerica (NYSE:PRI) had its price target increased by Keefe, Bruyette & Woods from $255.00 to $260.00 in a research report report published on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on PRI. Raymond James downgraded Primerica from a strong-buy rating to a market perform rating in a research note on Monday, February 12th. StockNews.com upgraded Primerica from a hold rating to a buy rating in a research note on Thursday, March 7th. Truist Financial lifted their price target on Primerica from $260.00 to $275.00 and gave the stock a buy rating in a research note on Thursday, February 15th. Finally, Morgan Stanley lifted their price target on Primerica from $215.00 to $245.00 and gave the stock an equal weight rating in a research note on Friday, March 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $244.20.

Primerica Price Performance

Shares of Primerica stock opened at $243.23 on Wednesday. The business has a 50-day moving average of $245.75 and a 200-day moving average of $221.00. The company has a market capitalization of $8.44 billion, a PE ratio of 15.32 and a beta of 1.06. Primerica has a 1-year low of $171.81 and a 1-year high of $256.56.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.27 by ($0.02). The business had revenue of $726.34 million for the quarter, compared to analyst estimates of $723.64 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.49 earnings per share. On average, equities analysts expect that Primerica will post 17.75 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Wednesday, February 21st were issued a $0.75 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $3.00 dividend on an annualized basis and a yield of 1.23%. This is a boost from Primerica’s previous quarterly dividend of $0.65. Primerica’s dividend payout ratio (DPR) is currently 18.89%.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $243.41, for a total value of $365,115.00. Following the transaction, the president now owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total transaction of $58,455.54. Following the sale, the insider now owns 100 shares of the company’s stock, valued at $24,981. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $243.41, for a total value of $365,115.00. Following the sale, the president now directly owns 13,259 shares in the company, valued at approximately $3,227,373.19. The disclosure for this sale can be found here. Insiders have sold 6,708 shares of company stock valued at $1,648,677 over the last quarter. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

A number of hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC raised its holdings in shares of Primerica by 1.4% during the fourth quarter. Intech Investment Management LLC now owns 3,924 shares of the financial services provider’s stock valued at $807,000 after buying an additional 55 shares during the last quarter. PFW Advisors LLC increased its stake in shares of Primerica by 3.8% during the fourth quarter. PFW Advisors LLC now owns 1,521 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 56 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Primerica by 1.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,744 shares of the financial services provider’s stock valued at $726,000 after acquiring an additional 59 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Primerica by 2.7% during the first quarter. Commonwealth Equity Services LLC now owns 2,281 shares of the financial services provider’s stock valued at $393,000 after acquiring an additional 59 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Primerica by 0.6% during the third quarter. Arizona State Retirement System now owns 10,314 shares of the financial services provider’s stock valued at $2,001,000 after acquiring an additional 60 shares during the period. Institutional investors own 90.88% of the company’s stock.

About Primerica

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.