Shares of Primerica, Inc. (NYSE:PRI – Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $317.76 and last traded at $317.06, with a volume of 5343 shares. The stock had previously closed at $314.59.
Analyst Ratings Changes
PRI has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $305.00 to $323.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Jefferies Financial Group lifted their price target on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Morgan Stanley boosted their price objective on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. TD Cowen increased their target price on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings upgraded Primerica from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $308.67.
Get Our Latest Stock Analysis on Primerica
Primerica Stock Up 1.0%
Primerica (NYSE:PRI – Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $5.45 by $0.51. The business had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $5.02 EPS. Equities analysts expect that Primerica, Inc. will post 24.6 EPS for the current year.
Primerica Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.5%. The ex-dividend date was Thursday, May 21st. Primerica’s dividend payout ratio is currently 20.13%.
Insider Activity
In other news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $279.64, for a total value of $503,352.00. Following the completion of the sale, the president owned 9,811 shares in the company, valued at approximately $2,743,548.04. This trade represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the sale, the chief executive officer owned 33,696 shares in the company, valued at $9,451,391.04. This represents a 4.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.63% of the company’s stock.
Institutional Investors Weigh In On Primerica
A number of large investors have recently added to or reduced their stakes in the company. Vista Investment Partners II LLC acquired a new stake in shares of Primerica during the fourth quarter valued at about $1,685,000. M&T Bank Corp lifted its stake in shares of Primerica by 1,155.8% in the fourth quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock worth $8,303,000 after acquiring an additional 29,578 shares in the last quarter. Moran Wealth Management LLC lifted its stake in shares of Primerica by 168.6% in the fourth quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock worth $5,302,000 after acquiring an additional 12,881 shares in the last quarter. Arbejdsmarkedets Tillaegspension purchased a new position in Primerica in the fourth quarter valued at about $23,767,000. Finally, Oxbow Advisors LLC purchased a new position in Primerica in the fourth quarter valued at about $3,170,000. 90.88% of the stock is owned by institutional investors and hedge funds.
Primerica Company Profile
Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.
In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.
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