Primerica (NYSE:PRI) Upgraded at StockNews.com

StockNews.com upgraded shares of Primerica (NYSE:PRI - Free Report) from a hold rating to a buy rating in a research report released on Friday.

Other research analysts also recently issued reports about the stock. Truist Financial raised their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. TD Cowen initiated coverage on shares of Primerica in a report on Wednesday, October 9th. They issued a "buy" rating and a $314.00 price objective on the stock. Piper Sandler initiated coverage on shares of Primerica in a report on Friday, August 30th. They issued a "neutral" rating and a $283.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a report on Monday, August 19th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $288.33.

Primerica Trading Up 1.6 %

NYSE PRI traded up $4.86 during trading hours on Friday, reaching $301.73. 182,497 shares of the company traded hands, compared to its average volume of 153,971. Primerica has a 12 month low of $184.76 and a 12 month high of $304.84. The stock has a market capitalization of $10.07 billion, a PE ratio of 22.72 and a beta of 1.08. The company has a 50 day moving average of $277.24 and a two-hundred day moving average of $253.40.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. During the same period last year, the firm posted $4.28 EPS. The company's revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts anticipate that Primerica will post 19.12 earnings per share for the current year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 yield of 1.19%. Primerica's payout ratio is 27.50%.

Primerica declared that its Board of Directors has initiated a stock buyback program on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Primerica

In related news, Director John A. Jr. Addison sold 2,000 shares of the firm's stock in a transaction that occurred 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 approximately $3,846,081.35. This trade represents a 11.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the firm'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 sale, the chief executive officer now owns 36,322 shares of the company's stock, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock valued at $1,803,175 in the last quarter. Insiders own 0.85% of the company's stock.

Institutional Trading of Primerica

Institutional investors have recently made changes to their positions in the stock. ORG Partners LLC acquired a new stake in Primerica in the second quarter valued at approximately $30,000. V Square Quantitative Management LLC bought a new position in shares of Primerica in the third quarter valued at approximately $31,000. Prospera Private Wealth LLC bought a new position in shares of Primerica in the third quarter valued at approximately $31,000. UMB Bank n.a. raised its position 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 valued at $38,000 after purchasing an additional 67 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 54 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

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.