Primerica (NYSE:PRI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Primerica (NYSE:PRI) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group increased their price target on Primerica from $239.00 to $249.00 and gave the stock a hold rating in a research note on Thursday, July 18th. Morgan Stanley increased 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. Truist Financial raised their target price on Primerica from $275.00 to $300.00 and gave the company a buy rating in a research note on Friday, August 9th. Piper Sandler assumed coverage on Primerica in a research note on Friday, August 30th. They set a neutral rating and a $283.00 target price for the company. Finally, Keefe, Bruyette & Woods raised their target price on Primerica from $255.00 to $275.00 and gave the company a market perform rating in a research note on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Primerica has an average rating of Hold and a consensus target price of $275.20.

Primerica Trading Down 1.0 %

PRI stock opened at $260.71 on Friday. The firm has a market cap of $8.97 billion, a P/E ratio of 15.87 and a beta of 1.09. Primerica has a 12-month low of $184.76 and a 12-month high of $265.27. The stock’s 50 day simple moving average is $248.65 and its 200 day simple moving average is $239.08.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. The firm had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.99 EPS. On average, research analysts forecast that Primerica will post 17.92 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.38%. This is an increase from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date is Wednesday, August 21st. Primerica’s dividend payout ratio is currently 21.91%.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $222.76, for a total value of $668,280.00. Following the completion of the sale, the chief executive officer now directly owns 48,322 shares of the company’s stock, valued at approximately $10,764,208.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $222.76, for a total value of $668,280.00. Following the completion of the sale, the chief executive officer now directly owns 48,322 shares of the company’s stock, valued at approximately $10,764,208.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the sale, the president now directly owns 10,259 shares of the company’s stock, valued at $2,678,727.49. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock valued at $1,817,595 over the last three months. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Partners LLC acquired a new position in shares of Primerica during the 2nd quarter valued at about $30,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Primerica by 493.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 148 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 60 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Primerica during the 2nd quarter valued at about $71,000. Finally, O Dell Group LLC acquired a new position in shares of Primerica during the 4th quarter valued at about $153,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

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.