Shares of Primerica, Inc. (NYSE:PRI - Get Free Report) have earned a consensus rating of "Hold" from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $309.14.
A number of equities research analysts have recently weighed in on PRI shares. Keefe, Bruyette & Woods lowered their target price on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research note on Wednesday. Morgan Stanley dropped their price objective on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. StockNews.com downgraded shares of Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price target for the company. Finally, Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th.
Read Our Latest Analysis on Primerica
Insider Transactions at Primerica
In other news, President Peter W. Schneider sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the transaction, the president now owns 13,301 shares in the company, valued at $3,762,852.90. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,234 shares of company stock valued at $1,476,575. Company insiders own 0.85% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Colonial Trust Co SC purchased a new stake in Primerica in the fourth quarter worth about $25,000. True Wealth Design LLC purchased a new stake in shares of Primerica in the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC purchased a new stake in shares of Primerica in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC increased its position in Primerica by 129.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock valued at $34,000 after buying an additional 71 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock valued at $58,000 after buying an additional 115 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.
Primerica Trading Down 5.5 %
Shares of PRI stock traded down $14.40 during trading hours on Friday, hitting $248.19. 257,767 shares of the company's stock were exchanged, compared to its average volume of 170,514. The company has a market capitalization of $8.21 billion, a PE ratio of 18.05 and a beta of 1.03. Primerica has a 12-month low of $184.76 and a 12-month high of $307.91. The business's 50 day simple moving average is $280.18 and its 200-day simple moving average is $282.03.
Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping analysts' consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. Equities analysts anticipate that Primerica will post 20.6 EPS for the current year.
Primerica Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.68%. Primerica's dividend payout ratio is 30.25%.
About Primerica
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Get Free ReportPrimerica, 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.
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