Primerica (NYSE:PRI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Primerica (NYSE:PRI) from a buy rating to a hold rating in a report released on Monday morning.

A number of other analysts have also recently weighed in on PRI. Truist Financial raised their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Piper Sandler reduced their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Finally, TD Cowen increased their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Primerica currently has an average rating of “Hold” and an average target price of $296.33.

Primerica Stock Up 0.9 %

Shares of NYSE:PRI opened at $278.33 on Monday. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 21.26 and a beta of 1.11. The firm has a 50 day moving average of $286.17 and a 200 day moving average of $267.23. Primerica has a 52 week low of $184.76 and a 52 week high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. During the same period in the prior year, the business posted $4.28 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts expect that Primerica will post 19.32 EPS for the current year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.90 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.29%. Primerica’s payout ratio is currently 27.50%.

Primerica declared that its board has initiated a stock repurchase plan on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Primerica

A number of institutional investors and hedge funds have recently modified their holdings of PRI. V Square Quantitative Management LLC purchased a new position in Primerica during the 3rd quarter worth approximately $31,000. Prospera Private Wealth LLC purchased a new position in shares of Primerica during the third quarter worth $31,000. UMB Bank n.a. lifted its position in Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 67 shares during the period. Larson Financial Group LLC boosted its holdings in Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 54 shares during the last quarter. Finally, Quarry LP grew its position in Primerica by 629.2% during the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 302 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

About Primerica

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.