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

Primerica, Inc. (NYSE:PRI) has been assigned a consensus rating of “Hold” from the eight research firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $297.80.

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Morgan Stanley lifted their target price on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Finally, Keefe, Bruyette & Woods lifted their price target on Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th.

Insider Activity

In other news, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the sale, the chief executive officer directly owned 33,696 shares in the company, valued at $9,451,391.04. The trade was a 4.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the sale, the president directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. The trade was a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Primerica

Several institutional investors and hedge funds have recently modified their holdings of PRI. Integrated Wealth Concepts LLC lifted its stake in shares of Primerica by 20.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock valued at $609,000 after purchasing an additional 366 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Primerica by 27.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock valued at $36,894,000 after purchasing an additional 28,129 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Primerica in the 1st quarter valued at $1,763,000. Focus Partners Wealth lifted its stake in shares of Primerica by 17.5% in the 1st quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 208 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Primerica by 205.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Trading Up 1.0%

Shares of NYSE PRI opened at $286.62 on Tuesday. Primerica has a one year low of $230.09 and a one year high of $288.03. The firm has a market capitalization of $8.94 billion, a PE ratio of 12.02 and a beta of 0.88. The business has a 50-day moving average price of $276.11 and a two-hundred day moving average price of $264.76.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.45 by $0.51. The company had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $5.02 EPS. Research analysts anticipate that Primerica will post 24.45 EPS for the current year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Thursday, May 21st. Primerica’s payout ratio is currently 20.13%.

About Primerica

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.