Primerica, Inc. (NYSE:PRI) Receives $245.50 Average Target Price from Brokerages

Primerica, Inc. (NYSE:PRI) has received a consensus rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $245.50.

A number of equities analysts have recently weighed in on the stock. Raymond James cut shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Morgan Stanley raised their price target on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Truist Financial lifted their price objective on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th.

Primerica Price Performance

Shares of NYSE:PRI opened at $218.39 on Friday. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 13.75 and a beta of 1.06. The company has a 50 day moving average of $242.38 and a 200-day moving average of $222.57. Primerica has a one year low of $173.00 and a one year high of $256.56.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.27 by ($0.02). The company had revenue of $726.34 million during the quarter, compared to the consensus estimate of $723.64 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.49 EPS. Equities research analysts anticipate that Primerica will post 17.78 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were given a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $3.00 dividend on an annualized basis and a yield of 1.37%. This is an increase from Primerica’s previous quarterly dividend of $0.65. Primerica’s dividend payout ratio (DPR) is 18.89%.

Insiders Place Their Bets

In other news, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the transaction, the chief operating officer now owns 3,379 shares in the company, valued at approximately $829,307.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Gregory C. Pitts sold 3,759 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the transaction, the chief operating officer now directly owns 3,379 shares in the company, valued at $829,307.97. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the sale, the president now owns 13,259 shares of the company’s stock, 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 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Primerica

A number of institutional investors have recently bought and sold shares of the business. ORG Partners LLC acquired a new stake in shares of Primerica in the fourth quarter valued at approximately $26,000. Arlington Trust Co LLC bought a new stake in Primerica in the 3rd quarter valued at $25,000. LWM Advisory Services LLC acquired a new stake in Primerica during the 3rd quarter valued at $26,000. Sound Income Strategies LLC boosted its position in Primerica by 121.9% during the fourth quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 128 shares during the period. Finally, IFP Advisors Inc increased its holdings in shares of Primerica by 12.0% in the third quarter. IFP Advisors Inc now owns 617 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Company Profile

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.