Shares of Primerica, Inc. (NYSE:PRI – Get Rating) have been given an average recommendation of “Hold” by the seven brokerages that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $158.40.
Several research analysts have weighed in on PRI shares. Morgan Stanley lowered their price objective on shares of Primerica from $148.00 to $132.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 6th. Truist Financial lowered their target price on shares of Primerica from $163.00 to $150.00 and set a “buy” rating for the company in a report on Friday, July 1st.
Primerica Trading Up 0.4 %
PRI opened at $129.06 on Tuesday. The company’s fifty day moving average price is $121.84 and its two-hundred day moving average price is $129.71. Primerica has a 1-year low of $110.22 and a 1-year high of $179.51. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 14.39 and a beta of 1.29.
Primerica (NYSE:PRI – Get Rating) last released its quarterly earnings data on Monday, August 8th. The financial services provider reported $2.86 earnings per share for the quarter, missing the consensus estimate of $3.04 by ($0.18). Primerica had a return on equity of 22.07% and a net margin of 12.92%. The business had revenue of $668.68 million for the quarter, compared to analyst estimates of $707.24 million. During the same quarter in the previous year, the company posted $3.25 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that Primerica will post 11.63 earnings per share for the current fiscal year.
Primerica Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Investors of record on Monday, August 22nd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.70%. Primerica’s dividend payout ratio (DPR) is presently 24.53%.
Insider Buying and Selling
In related news, CEO Glenn J. Williams sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $119.32, for a total transaction of $477,280.00. Following the completion of the sale, the chief executive officer now owns 62,215 shares in the company, valued at $7,423,493.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.85% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Primerica
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRI. Wellington Shields Capital Management LLC bought a new position in Primerica during the first quarter worth about $219,000. Massachusetts Financial Services Co. MA bought a new position in Primerica during the first quarter worth about $13,325,000. Royal London Asset Management Ltd. boosted its position in Primerica by 52.8% during the first quarter. Royal London Asset Management Ltd. now owns 232,091 shares of the financial services provider’s stock worth $31,748,000 after purchasing an additional 80,152 shares during the period. State Street Corp boosted its position in Primerica by 5.7% during the first quarter. State Street Corp now owns 1,106,268 shares of the financial services provider’s stock worth $151,360,000 after purchasing an additional 59,671 shares during the period. Finally, Geode Capital Management LLC boosted its position in Primerica by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 683,815 shares of the financial services provider’s stock worth $104,808,000 after purchasing an additional 55,776 shares during the period. Institutional investors own 90.90% of the company’s stock.
About Primerica
Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.