Primerica, Inc. (NYSE:PRI - Get Free Report) has been assigned an average rating of "Hold" from the seven ratings firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $281.67.
Several analysts recently commented on the stock. Truist Financial lifted their target price on shares of Primerica from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Jefferies Financial Group boosted their price objective on Primerica from $239.00 to $249.00 and gave the stock a "hold" rating in a report on Thursday, July 18th. Morgan Stanley increased their target price on Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research note on Monday, August 19th. TD Cowen began coverage on Primerica in a report on Wednesday. They set a "buy" rating and a $314.00 price target for the company. Finally, Keefe, Bruyette & Woods upped their price objective on Primerica from $255.00 to $275.00 and gave the company a "market perform" rating in a report on Wednesday, July 17th.
Check Out Our Latest Stock Analysis on Primerica
Shares of NYSE PRI opened at $277.57 on Friday. Primerica has a twelve month low of $184.76 and a twelve month high of $279.89. The company has a market cap of $9.55 billion, a PE ratio of 16.89 and a beta of 1.09. The business's 50 day moving average price is $259.85 and its two-hundred day moving average price is $242.15.
Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating analysts' consensus estimates of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The business had revenue of $803.38 million for the quarter, compared to analysts' expectations of $748.88 million. During the same quarter in the prior year, the business earned $3.99 EPS. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. As a group, research analysts anticipate that Primerica will post 18.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were issued a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This is a boost from Primerica's previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a yield of 1.30%. Primerica's payout ratio is currently 21.91%.
In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the firm's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the transaction, the director now directly owns 15,151 shares of the company's stock, valued at $3,846,081.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John A. Jr. Addison sold 2,000 shares of the business's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares of the company's stock, valued at approximately $3,846,081.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the firm's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the sale, the chief executive officer now directly owns 45,322 shares in the company, valued at $11,446,071.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,500 shares of company stock valued at $1,657,015. 0.85% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of PRI. Burgundy Asset Management Ltd. raised its holdings in Primerica by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider's stock valued at $292,688,000 after buying an additional 17,095 shares during the last quarter. Millennium Management LLC raised its stake in shares of Primerica by 30,726.7% during the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider's stock valued at $161,102,000 after acquiring an additional 678,752 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Primerica by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider's stock worth $150,880,000 after purchasing an additional 21,836 shares during the period. Principal Financial Group Inc. grew its stake in shares of Primerica by 5.0% in the first quarter. Principal Financial Group Inc. now owns 218,324 shares of the financial services provider's stock worth $55,227,000 after purchasing an additional 10,354 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Primerica by 5.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 112,572 shares of the financial services provider's stock valued at $23,163,000 after purchasing an additional 5,326 shares during the period. 90.88% of the stock is currently owned by institutional investors.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Primerica, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Primerica wasn't on the list.
While Primerica currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.