Shares of Primerica, Inc. (NYSE:PRI – Get Free Report) have been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $318.80.
Several research firms have recently commented on PRI. Keefe, Bruyette & Woods dropped their target price on shares of Primerica from $335.00 to $330.00 and set a “market perform” rating for the company in a research report on Friday. Truist Financial reaffirmed a “hold” rating and issued a $320.00 price target (down from $370.00) on shares of Primerica in a research note on Thursday, August 27th. TD Cowen upped their target price on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group lifted their price objective on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research note on Friday, July 10th.
Check Out Our Latest Analysis on PRI
Insider Buying and Selling at Primerica
Institutional Trading of Primerica
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Primerica in the second quarter valued at $848,161,000. Bamco Inc. NY purchased a new position in shares of Primerica during the 2nd quarter valued at approximately $190,827,000. Dimensional Fund Advisors LP grew its stake in Primerica by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider’s stock valued at $162,950,000 after acquiring an additional 7,628 shares during the period. First Trust Advisors LP lifted its holdings in Primerica by 4.7% during the first quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider’s stock valued at $132,556,000 after purchasing an additional 23,850 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Primerica by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 314,134 shares of the financial services provider’s stock valued at $78,684,000 after purchasing an additional 2,382 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.
Primerica Trading Up 0.6%
Shares of NYSE:PRI opened at $276.88 on Thursday. Primerica has a 12-month low of $230.09 and a 12-month high of $327.28. The stock’s 50-day moving average price is $292.74 and its 200-day moving average price is $285.46. The stock has a market capitalization of $8.52 billion, a P/E ratio of 11.12 and a beta of 0.88.
Primerica (NYSE:PRI – Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.38. The firm had revenue of $865.07 million for the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $5.46 earnings per share. As a group, research analysts predict that Primerica will post 25.23 EPS for the current year.
Primerica Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Friday, August 21st were issued a dividend of $1.20 per share. The ex-dividend date was Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Primerica’s dividend payout ratio is presently 19.28%.
About Primerica
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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