Primerica, Inc. (NYSE:PRI) Receives Consensus Recommendation of "Hold" from Analysts

Shares of Primerica, Inc. (NYSE:PRI - Get Free Report) have been given a consensus recommendation of "Hold" by the seven analysts 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 target price among analysts that have issued ratings on the stock in the last year is $293.50.

A number of brokerages have recently commented on PRI. Truist Financial boosted their price target on Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. TD Cowen increased their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Piper Sandler started coverage on shares of Primerica in a report on Friday, August 30th. They issued a "neutral" rating and a $283.00 target price for the company. StockNews.com upgraded Primerica from a "hold" rating to a "buy" rating in a research report on Friday, November 22nd. Finally, Morgan Stanley upped their price target on Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research note on Monday, August 19th.

Primerica Trading Down 0.5 %

PRI stock traded down $1.55 during midday trading on Monday, hitting $301.20. The stock had a trading volume of 76,115 shares, compared to its average volume of 152,896. The firm has a market cap of $10.05 billion, a P/E ratio of 22.77 and a beta of 1.08. The business has a fifty day moving average price of $282.86 and a two-hundred day moving average price of $257.28. Primerica has a 1-year low of $184.76 and a 1-year high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.87. The company had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $4.28 EPS. On average, equities analysts anticipate that Primerica will post 19.32 EPS for the current year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.20%. Primerica's payout ratio is currently 27.50%.

Primerica announced that its Board of Directors has approved a share buyback program on Thursday, November 14th that permits the company to buyback $450.00 million in 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 an indication that the company's board believes its stock is undervalued.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction 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 $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John A. Jr. Addison sold 2,000 shares of Primerica 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 completion of the sale, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. This represents a 11.66 % decrease in their position. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.

Institutional Trading of Primerica

Institutional investors and hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Primerica during the 3rd quarter worth approximately $336,000. Sanctuary Advisors LLC increased its holdings in shares of Primerica by 21.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 5,632 shares of the financial services provider's stock worth $1,493,000 after buying an additional 990 shares during the last quarter. SkyView Investment Advisors LLC lifted its holdings in Primerica by 2.2% in the third quarter. SkyView Investment Advisors LLC now owns 6,408 shares of the financial services provider's stock valued at $1,699,000 after acquiring an additional 137 shares during the last quarter. TD Private Client Wealth LLC increased its stake in Primerica by 52.7% during the third quarter. TD Private Client Wealth LLC now owns 365 shares of the financial services provider's stock worth $97,000 after acquiring an additional 126 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in shares of Primerica by 3.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,294 shares of the financial services provider's stock valued at $611,000 after acquiring an additional 76 shares during the period. 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.