Primerica (NYSE:PRI) Hits New 1-Year High - Still a Buy?

Shares of Primerica, Inc. (NYSE:PRI - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $280.56 and last traded at $280.35, with a volume of 91436 shares traded. The stock had previously closed at $277.05.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods raised their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 17th. Jefferies Financial Group raised their price objective on shares of Primerica from $239.00 to $249.00 and gave the stock a "hold" rating in a research report on Thursday, July 18th. StockNews.com upgraded shares of Primerica from a "hold" rating to a "buy" rating in a research report on Friday, October 4th. Finally, TD Cowen initiated coverage on shares of Primerica in a research report on Wednesday, October 9th. They issued a "buy" rating and a $314.00 price target for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $281.67.

Primerica Stock Up 0.5 %

The business's 50 day moving average is $261.35 and its 200-day moving average is $242.33. The firm has a market capitalization of $9.58 billion, a P/E ratio of 16.95 and a beta of 1.09.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.47 by $0.24. The business had revenue of $803.38 million for the quarter, compared to analysts' expectations of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted $3.99 earnings per share. Research analysts forecast that Primerica, Inc. will post 18.05 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.29%. This is a boost from Primerica's previous quarterly dividend of $0.75. The ex-dividend date was Wednesday, August 21st. Primerica's dividend payout ratio (DPR) is 21.91%.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the sale, the chief executive officer now owns 45,322 shares of the company's stock, valued at approximately $11,446,071.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the sale, the chief executive officer now directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock valued at $1,657,015 over the last three months. 0.85% of the stock is owned by insiders.

Institutional Trading of Primerica

Several institutional investors have recently modified their holdings of PRI. ORG Partners LLC bought a new stake in shares of Primerica in the second quarter worth $30,000. UMB Bank n.a. grew its stake in shares of Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock worth $38,000 after purchasing an additional 67 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Primerica by 493.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider's stock worth $45,000 after purchasing an additional 148 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider's stock worth $49,000 after purchasing an additional 60 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Primerica in the second quarter worth $71,000. 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.