Primerica (NYSE:PRI) Price Target Raised to $320.00 at Keefe, Bruyette & Woods

Primerica (NYSE:PRI) had its price target hoisted by Keefe, Bruyette & Woods from $315.00 to $320.00 in a research report report published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Separately, Morgan Stanley lifted their target price on shares of Primerica from $274.00 to $296.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus target price of $313.57.

Primerica Stock Performance

PRI opened at $263.73 on Monday. The company has a market cap of $8.54 billion, a PE ratio of 13.03 and a beta of 0.99. The stock has a 50-day moving average of $265.22 and a 200-day moving average of $271.54. Primerica has a 52-week low of $230.98 and a 52-week high of $307.91.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, beating the consensus estimate of $5.18 by $0.28. Primerica had a return on equity of 32.42% and a net margin of 21.48%. The company had revenue of $796.02 million for the quarter, compared to the consensus estimate of $790.99 million. During the same quarter last year, the company posted $4.71 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. On average, research analysts predict that Primerica will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 22nd will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. Primerica’s dividend payout ratio is currently 20.55%.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total transaction of $655,500.00. Following the sale, the chief executive officer directly owned 36,392 shares of the company’s stock, valued at $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of Primerica

Hedge funds have recently modified their holdings of the company. Federated Hermes Inc. raised its position in Primerica by 13.2% in the fourth quarter. Federated Hermes Inc. now owns 3,779 shares of the financial services provider’s stock worth $1,026,000 after purchasing an additional 440 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Primerica by 15.2% in the 4th quarter. Cerity Partners LLC now owns 4,274 shares of the financial services provider’s stock worth $1,139,000 after buying an additional 565 shares in the last quarter. Martingale Asset Management L P acquired a new position in shares of Primerica in the 4th quarter worth approximately $255,000. Raymond James Financial Inc. bought a new position in shares of Primerica during the 4th quarter worth approximately $34,191,000. Finally, Bessemer Group Inc. boosted its stake in Primerica by 182.2% in the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider’s stock valued at $69,000 after buying an additional 164 shares in the last quarter. Institutional investors 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.