Brokerages Set Primerica, Inc. (NYSE:PRI) Price Target at $316.29

Shares of Primerica, Inc. (NYSE:PRI) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $316.2857.

Several research firms have recently commented on PRI. Morgan Stanley boosted their target price on shares of Primerica from $292.00 to $308.00 and gave the stock an “equal weight” rating in a research report on Monday, August 18th. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Monday, August 11th. BMO Capital Markets raised shares of Primerica from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $292.00 to $318.00 in a research report on Tuesday, September 23rd. Jefferies Financial Group decreased their target price on shares of Primerica from $293.00 to $283.00 and set a “hold” rating for the company in a research report on Monday, August 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Primerica in a research report on Saturday, September 27th.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at approximately $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HB Wealth Management LLC boosted its holdings in Primerica by 1.9% during the first quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider’s stock worth $594,000 after purchasing an additional 38 shares during the last quarter. Olympiad Research LP boosted its holdings in Primerica by 3.9% during the second quarter. Olympiad Research LP now owns 1,061 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 40 shares during the last quarter. Applied Finance Capital Management LLC boosted its holdings in Primerica by 5.3% during the first quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 42 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Primerica by 1.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider’s stock worth $881,000 after purchasing an additional 44 shares during the last quarter. Finally, Orion Porfolio Solutions LLC boosted its holdings in Primerica by 1.2% during the second quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 45 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Trading Up 0.2%

PRI opened at $278.95 on Friday. Primerica has a 1-year low of $230.98 and a 1-year high of $307.91. The company has a market cap of $9.04 billion, a P/E ratio of 13.78 and a beta of 0.97. The company has a fifty day moving average price of $269.11 and a two-hundred day moving average price of $267.89.

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

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 22nd were issued a dividend of $1.04 per share. The ex-dividend date was Friday, August 22nd. This represents a $4.16 annualized dividend and a yield of 1.5%. Primerica’s payout ratio is 20.55%.

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.