Wells Fargo & Co reissued their market perform rating on shares of Primerica (NYSE:PRI) in a research report released on Tuesday morning, The Fly reports. Wells Fargo & Co currently has a $100.00 price target on the financial services provider’s stock, up from their previous price target of $95.00.
A number of other brokerages have also issued reports on PRI. ValuEngine upgraded shares of Primerica from a hold rating to a buy rating in a research note on Sunday, December 31st. Keefe, Bruyette & Woods restated a hold rating and issued a $95.00 price target on shares of Primerica in a research note on Friday, November 10th. SunTrust Banks lowered shares of Primerica from a buy rating to a hold rating in a research note on Thursday, October 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Primerica from a hold rating to a buy rating and set a $96.00 price target for the company in a research note on Wednesday, October 11th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $92.40.
Primerica (NYSE:PRI) traded down $1.40 on Tuesday, hitting $103.90. 197,538 shares of the stock were exchanged, compared to its average volume of 198,200. The stock has a market capitalization of $4,600.00, a price-to-earnings ratio of 20.17, a P/E/G ratio of 1.71 and a beta of 1.24. Primerica has a 12 month low of $70.00 and a 12 month high of $106.40.
Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.09. The company had revenue of $427.30 million for the quarter, compared to analyst estimates of $425.83 million. Primerica had a net margin of 14.55% and a return on equity of 18.94%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. equities analysts expect that Primerica will post 5.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.77%. Primerica’s dividend payout ratio (DPR) is presently 15.53%.
In related news, VP Gregory C. Pitts sold 5,000 shares of Primerica stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $92.40, for a total value of $462,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.86% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Koch Industries Inc. acquired a new position in Primerica in the second quarter worth $237,000. Macquarie Group Ltd. boosted its holdings in Primerica by 25.2% in the second quarter. Macquarie Group Ltd. now owns 585,073 shares of the financial services provider’s stock worth $44,319,000 after purchasing an additional 117,739 shares during the period. Voya Investment Management LLC boosted its holdings in Primerica by 19.2% in the second quarter. Voya Investment Management LLC now owns 548,220 shares of the financial services provider’s stock worth $41,528,000 after purchasing an additional 88,376 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Primerica by 2.4% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,508,400 shares of the financial services provider’s stock worth $286,111,000 after purchasing an additional 81,603 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Primerica by 8.0% in the second quarter. Goldman Sachs Group Inc. now owns 927,674 shares of the financial services provider’s stock worth $70,272,000 after purchasing an additional 69,063 shares during the period. Institutional investors and hedge funds own 95.89% of the company’s stock.
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Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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