Primerica, Inc. (NYSE:PRI) Given Consensus Recommendation of “Moderate Buy” by Analysts

Primerica, Inc. (NYSE:PRI) has been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $300.00.

Several brokerages have recently weighed in on PRI. Zacks Research upgraded shares of Primerica from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Piper Sandler set a $292.00 target price on Primerica and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Weiss Ratings lowered Primerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, January 21st. Morgan Stanley set a $292.00 target price on Primerica in a research report on Monday, December 15th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Tuesday, November 11th.

Primerica Stock Up 0.3%

PRI opened at $262.81 on Friday. Primerica has a 52-week low of $230.98 and a 52-week high of $298.75. The company has a 50 day moving average of $259.35 and a two-hundred day moving average of $263.74. The company has a market cap of $8.39 billion, a P/E ratio of 12.08 and a beta of 0.90.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.52 by $0.81. The company had revenue of $838.88 million during the quarter, compared to the consensus estimate of $817.81 million. Primerica had a return on equity of 31.75% and a net margin of 22.36%.The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.83 earnings per share. Research analysts anticipate that Primerica will post 20.6 earnings per share for the current year.

Primerica announced that its Board of Directors has authorized a stock buyback plan on Wednesday, November 19th that permits the company to repurchase $475.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 21st were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, November 21st. Primerica’s dividend payout ratio (DPR) is 19.12%.

Insiders Place Their Bets

In related news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $255.30, for a total transaction of $510,600.00. Following the sale, the president directly owned 7,301 shares of the company’s stock, valued at approximately $1,863,945.30. This represents a 21.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joel M. Babbit sold 700 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $255.00, for a total transaction of $178,500.00. Following the sale, the director directly owned 8,400 shares in the company, valued at $2,142,000. This trade represents a 7.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,200 shares of company stock valued at $1,338,225 in the last quarter. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Primerica

Large investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC acquired a new position in shares of Primerica during the third quarter valued at $27,000. Smartleaf Asset Management LLC grew its position in Primerica by 186.5% in 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 last quarter. V Square Quantitative Management LLC bought a new stake in shares of Primerica during the fourth quarter valued at approximately $30,000. Hilltop National Bank acquired a new position in shares of Primerica during the second quarter worth approximately $31,000. Finally, Cullen Frost Bankers Inc. bought a new position in Primerica in the 2nd quarter worth approximately $33,000. 90.88% of the stock is owned by institutional investors and hedge funds.

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.