Keefe, Bruyette & Woods Raises Primerica (NYSE:PRI) Price Target to $320.00

Primerica (NYSE:PRI) had its price target lifted by Keefe, Bruyette & Woods from $315.00 to $320.00 in a research note released on Monday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Separately, Morgan Stanley lifted their price target on Primerica from $274.00 to $296.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $313.57.

Primerica Stock Performance

Shares of PRI opened at $257.96 on Monday. The stock has a 50-day moving average of $265.48 and a two-hundred day moving average of $271.65. Primerica has a one year low of $230.98 and a one year high of $307.91. The stock has a market cap of $8.36 billion, a P/E ratio of 12.75 and a beta of 0.99.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.28. Primerica had a return on equity of 32.42% and a net margin of 21.48%. The company had revenue of $796.02 million during the quarter, compared to analysts’ expectations of $790.99 million. During the same quarter in the previous year, the firm posted $4.71 EPS. The firm’s revenue was up .3% compared to the same quarter last year. Analysts predict that Primerica will post 20.6 EPS for the current fiscal year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be paid a dividend of $1.04 per share. The ex-dividend date is Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. Primerica’s dividend payout ratio (DPR) is presently 20.55%.

Hedge Funds Weigh In On Primerica

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Primerica by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider’s stock valued at $994,048,000 after buying an additional 37,994 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of Primerica by 1.7% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,310,019 shares of the financial services provider’s stock valued at $372,740,000 after buying an additional 21,546 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Primerica by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 611,437 shares of the financial services provider’s stock valued at $173,963,000 after buying an additional 16,350 shares during the last quarter. Nuveen LLC purchased a new position in shares of Primerica during the 1st quarter valued at about $156,019,000. Finally, Fiduciary Management Inc. WI raised its stake in shares of Primerica by 2.8% during the 1st quarter. Fiduciary Management Inc. WI now owns 490,923 shares of the financial services provider’s stock valued at $139,682,000 after buying an additional 13,402 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

About Primerica

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.