Primerica, Inc. (NYSE:PRI – Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $278.35 and traded as high as $280.17. Primerica shares last traded at $279.4640, with a volume of 201,953 shares traded.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on PRI shares. Jefferies Financial Group raised their price objective on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Morgan Stanley boosted their target price on shares of Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a research note on Monday, August 24th. 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. Truist Financial cut shares of Primerica from a “buy” rating to a “hold” rating and decreased their price target for the company from $370.00 to $320.00 in a research note on Thursday, August 27th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Primerica from $335.00 to $330.00 and set a “market perform” rating on the stock in a research note on Friday, October 9th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Primerica has an average rating of “Hold” and a consensus target price of $318.80.
Primerica Stock Up 0.7%
The company has a market cap of $8.60 billion, a P/E ratio of 11.22 and a beta of 0.88. The business has a 50-day moving average price of $284.81 and a two-hundred day moving average price of $278.35.
Primerica (NYSE:PRI – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.38. The business had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.46 earnings per share. As a group, sell-side analysts expect that Primerica, Inc. will post 25.22 EPS for the current fiscal year.
Primerica Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 21st were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 21st. Primerica’s payout ratio is currently 19.28%.
Insider Buying and Selling at Primerica
In other news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $312.65, for a total transaction of $562,770.00. Following the completion of the sale, the president owned 8,011 shares in the company, valued at $2,504,639.15. The trade was a 18.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $320.20, for a total transaction of $480,300.00. Following the sale, the chief executive officer directly owned 32,196 shares of the company’s stock, valued at approximately $10,309,159.20. This trade represents a 4.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 3,579 shares of company stock worth $1,130,573. Company insiders own 0.63% of the company’s stock.
Hedge Funds Weigh In On Primerica
A number of hedge funds and other institutional investors have recently bought and sold shares of PRI. BlackRock Inc. bought a new stake in shares of Primerica during the 2nd quarter valued at $848,161,000. Bamco Inc. NY acquired a new position in shares of Primerica in the 2nd quarter valued at $190,827,000. Dimensional Fund Advisors LP lifted its stake in shares of 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 purchasing an additional 7,628 shares during the period. First Trust Advisors LP boosted its position in shares of Primerica by 4.7% in the 1st quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider’s stock worth $132,556,000 after purchasing an additional 23,850 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Primerica by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 314,134 shares of the financial services provider’s stock worth $78,684,000 after purchasing an additional 2,382 shares during the last quarter. 90.88% of the stock is owned by institutional investors.
Primerica Company Profile
Primerica, Inc is a financial services company that focuses on serving middle-income households in the United States and Canada, as well as families in Puerto Rico. The company distributes its products and services through a network of independent representatives who provide financial education and help clients address protection, savings and investment needs.
Primerica’s principal offerings include term life insurance, investment and savings products, retirement planning solutions, and strategies for managing debt.
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