Primerica, Inc. (NYSE:PRI) Given Average Recommendation of “Hold” by Brokerages

Primerica, Inc. (NYSE:PRI) has earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $296.33.

Several analysts have weighed in on the stock. Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. TD Cowen raised their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Truist Financial boosted their price objective on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd.

Primerica Price Performance

Primerica stock opened at $271.76 on Friday. The business has a 50 day simple moving average of $286.26 and a 200 day simple moving average of $265.85. The company has a market capitalization of $9.07 billion, a PE ratio of 20.76 and a beta of 1.09. Primerica has a one year low of $184.76 and a one year high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. During the same period last year, the business earned $4.28 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. Equities analysts anticipate that Primerica will post 19.32 earnings per share for the current fiscal year.

Primerica declared that its board has authorized a stock repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Primerica

Institutional investors have recently modified their holdings of the business. CIBC Asset Management Inc raised its holdings in Primerica by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock worth $279,000 after buying an additional 36 shares during the period. Creative Planning boosted its holdings in shares of Primerica by 0.7% in the third quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $1,613,000 after buying an additional 40 shares during the period. Kingsview Wealth Management LLC increased its position in shares of Primerica by 0.7% during the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock worth $1,549,000 after acquiring an additional 43 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the period. Finally, SkyView Investment Advisors LLC lifted its position in Primerica by 1.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider’s stock valued at $1,484,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

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.