Primerica (NYSE:PRI) Reaches New 52-Week High on Analyst Upgrade

Shares of Primerica, Inc. (NYSE:PRI) reached a new 52-week high on Thursday after Morgan Stanley raised their price target on the stock from $170.00 to $175.00. Morgan Stanley currently has an overweight rating on the stock. Primerica traded as high as $165.50 and last traded at $165.50, with a volume of 290 shares trading hands. The stock had previously closed at $161.53.

Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday, September 21st. lifted their target price on Primerica from $140.00 to $144.00 and gave the stock a “sell” rating in a research note on Monday, June 21st. Finally, William Blair reiterated an “outperform” rating on shares of Primerica in a research note on Monday, September 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $166.83.

In other Primerica news, President Peter W. Schneider sold 3,500 shares of Primerica stock in a transaction on Friday, August 27th. The stock was sold at an average price of $152.54, for a total value of $533,890.00. Following the completion of the transaction, the president now directly owns 22,672 shares of the company’s stock, valued at approximately $3,458,386.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alison S. Rand sold 1,500 shares of Primerica stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of $152.20, for a total value of $228,300.00. Following the completion of the transaction, the chief financial officer now directly owns 13,347 shares of the company’s stock, valued at $2,031,413.40. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Berman Capital Advisors LLC raised its holdings in shares of Primerica by 68.0% during the 3rd quarter. Berman Capital Advisors LLC now owns 168 shares of the financial services provider’s stock worth $25,000 after buying an additional 68 shares in the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of Primerica by 390.2% during the 1st quarter. SkyView Investment Advisors LLC now owns 201 shares of the financial services provider’s stock worth $30,000 after buying an additional 160 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Primerica during the 1st quarter worth $32,000. Advisory Services Network LLC acquired a new position in shares of Primerica during the 2nd quarter worth $35,000. Finally, Harvest Fund Management Co. Ltd grew its position in Primerica by 164.0% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 330 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 205 shares during the last quarter. 89.67% of the stock is owned by institutional investors.

The firm has a market cap of $6.56 billion, a P/E ratio of 14.86 and a beta of 1.48. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average of $151.60 and a two-hundred day moving average of $153.48.

Primerica (NYSE:PRI) last released its quarterly earnings results on Thursday, August 5th. The financial services provider reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.37. Primerica had a return on equity of 23.32% and a net margin of 17.82%. The firm had revenue of $654.16 million for the quarter, compared to analyst estimates of $617.60 million. As a group, equities analysts expect that Primerica, Inc. will post 11.63 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 14th. Shareholders of record on Friday, August 20th were given a $0.47 dividend. The ex-dividend date was Thursday, August 19th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.13%. Primerica’s dividend payout ratio (DPR) is presently 19.38%.

About Primerica (NYSE:PRI)

Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.

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