Primerica (NYSE:PRI – Free Report) had its price objective reduced by Keefe, Bruyette & Woods from $335.00 to $330.00 in a report issued on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.
PRI has been the subject of a number of other reports. Truist Financial reiterated a “hold” rating and issued a $320.00 price target (down from $370.00) on shares of Primerica in a report on Thursday, August 27th. Weiss Ratings cut Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. TD Cowen lifted their price objective on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Morgan Stanley lifted their price objective on shares of Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. Finally, Jefferies Financial Group boosted their target price on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $318.80.
View Our Latest Stock Report on PRI
Primerica Stock Down 0.1%
Primerica (NYSE:PRI – Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38. The company had revenue of $865.07 million for the quarter, compared to the consensus estimate of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%. Primerica’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $5.46 EPS. As a group, equities research analysts anticipate that Primerica will post 25.23 earnings per share for the current year.
Primerica Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 21st were paid a dividend of $1.20 per share. The ex-dividend date was Friday, August 21st. This represents a $4.80 annualized dividend and a yield of 1.7%. Primerica’s dividend payout ratio is 19.28%.
Insiders Place Their Bets
In other news, Director Amber Cottle sold 279 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the completion of the transaction, the director directly owned 3,549 shares of the company’s stock, valued at approximately $1,113,072.87. This represents a 7.29% 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 the SEC website. Also, CEO Glenn J. Williams sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $320.20, for a total value of $480,300.00. Following the transaction, the chief executive officer directly owned 32,196 shares of the company’s stock, valued at $10,309,159.20. This trade represents a 4.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,579 shares of company stock valued at $1,130,573 over the last quarter. Insiders own 0.63% of the company’s stock.
Institutional Trading of Primerica
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ameritas Advisory Services LLC bought a new position in shares of Primerica during the second quarter worth about $26,000. SJS Investment Consulting Inc. increased its holdings in shares of Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 74 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in shares of Primerica in the 2nd quarter worth about $29,000. Root Financial Partners LLC increased its holdings in shares of Primerica by 52.6% in the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 61 shares during the period. Finally, Steph & Co. lifted its position in Primerica by 38.0% in the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 54 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.
Primerica Company Profile
Primerica, Inc is a financial services company that helps middle-income families in the United States and Canada address their insurance, investment and financial planning needs. The company primarily distributes its products through a network of independent representatives who provide educational and financial guidance to clients.
Primerica’s offerings include term life insurance, investment and savings products, retirement solutions, annuities and other financial services. Through its affiliated businesses and representatives, the company also provides access to products and services designed to help clients manage debt and pursue long-term financial goals.
The company was founded in 1977 as A.L.
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