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

Primerica, Inc. (NYSE:PRI) has earned a consensus rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat 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 target among brokers that have covered the stock in the last year is $308.6667.

PRI has been the topic of several research reports. Jefferies Financial Group lifted their price objective on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. TD Cowen upped their price objective on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley upped their price objective on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st.

Insider Buying and Selling at Primerica

In related 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 value of $420,735.00. Following the completion of the sale, the chief executive officer owned 33,696 shares of the company’s stock, valued at approximately $9,451,391.04. This trade represents a 4.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the completion of the sale, the president owned 9,811 shares in the company, valued at $2,743,548.04. This represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC grew its stake in 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 buying an additional 366 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Primerica by 27.7% during the first quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock worth $36,894,000 after acquiring an additional 28,129 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Primerica in the first quarter worth $1,763,000. Focus Partners Wealth grew its position in shares of Primerica by 17.5% in the first 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 in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of Primerica by 205.8% in the first 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 in the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Price Performance

Shares of Primerica stock opened at $314.13 on Friday. Primerica has a 1 year low of $230.09 and a 1 year high of $317.69. The firm has a market cap of $9.79 billion, a PE ratio of 13.17 and a beta of 0.88. The stock has a fifty day moving average price of $286.72 and a 200-day moving average price of $270.74.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. The company had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $5.02 EPS. As a group, equities analysts anticipate that Primerica will post 24.6 EPS for the current fiscal 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 given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, May 21st. Primerica’s dividend 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.