Primerica, Inc. (NYSE:PRI) Receives $315.29 Consensus Price Target from Analysts

Shares of Primerica, Inc. (NYSE:PRI) have received an average rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $315.2857.

A number of research firms have weighed in on PRI. Morgan Stanley boosted their price objective on shares of Primerica from $292.00 to $308.00 and gave the company an “equal weight” rating in a research report on Monday, August 18th. Jefferies Financial Group dropped their target price on shares of Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a report on Monday, August 11th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Monday, August 11th.

Primerica Stock Down 0.1%

Shares of PRI opened at $273.42 on Wednesday. The firm has a fifty day simple moving average of $266.85 and a two-hundred day simple moving average of $269.01. Primerica has a twelve month low of $230.98 and a twelve month high of $307.91. The stock has a market capitalization of $8.86 billion, a P/E ratio of 13.51 and a beta of 1.00.

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

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 22nd will be paid a $1.04 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.5%. Primerica’s dividend payout ratio (DPR) is currently 20.55%.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total transaction of $655,500.00. Following the transaction, the chief executive officer owned 36,392 shares in the company, valued at $9,541,982.40. The trade was a 6.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PRI. HB Wealth Management LLC raised its stake in Primerica by 1.9% in the 1st quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider’s stock valued at $594,000 after purchasing an additional 38 shares during the last quarter. Olympiad Research LP raised its position in shares of Primerica by 3.9% in the 2nd quarter. Olympiad Research LP now owns 1,061 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 40 shares in the last quarter. Applied Finance Capital Management LLC raised its position in shares of Primerica by 5.3% in the 1st quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 42 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Primerica by 1.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider’s stock valued at $881,000 after acquiring an additional 44 shares in the last quarter. Finally, Orion Porfolio Solutions LLC raised its position in shares of Primerica by 1.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock valued at $1,058,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds 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.