Primerica (NYSE:PRI) PT Raised to $250.00

Primerica (NYSE:PRI) had its target price raised by Morgan Stanley from $245.00 to $250.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

PRI has been the subject of a number of other reports. Keefe, Bruyette & Woods upped their target price on Primerica from $255.00 to $260.00 and gave the company a market perform rating in a research report on Wednesday, April 10th. Truist Financial upped their target price on Primerica from $260.00 to $275.00 and gave the company a buy rating in a research report on Thursday, February 15th. StockNews.com upgraded Primerica from a hold rating to a buy rating in a research report on Thursday, March 7th. Finally, Raymond James downgraded Primerica from a strong-buy rating to a market perform rating in a research report on Monday, February 12th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $245.50.

Primerica Stock Performance

NYSE:PRI opened at $211.64 on Monday. The stock has a fifty day moving average price of $244.21 and a 200-day moving average price of $221.71. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 13.33 and a beta of 1.06. Primerica has a fifty-two week low of $173.00 and a fifty-two week high of $256.56.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.27 by ($0.02). The company had revenue of $726.34 million for the quarter, compared to the consensus estimate of $723.64 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.49 earnings per share. Research analysts predict that Primerica will post 17.76 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were given a dividend of $0.75 per share. This is an increase from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Tuesday, February 20th. Primerica’s dividend payout ratio is currently 18.89%.

Insider Buying and Selling

In related news, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total transaction of $58,455.54. Following the completion of the sale, the insider now directly owns 100 shares in the company, valued at approximately $24,981. The sale was disclosed in a filing with the SEC, which is available through this link. In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the transaction, the insider now owns 100 shares of the company’s stock, valued at approximately $24,981. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John A. Jr. Addison sold 1,215 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total value of $302,535.00. Following the completion of the transaction, the director now directly owns 16,467 shares of the company’s stock, valued at approximately $4,100,283. The disclosure for this sale can be found here. Insiders sold a total of 6,708 shares of company stock worth $1,648,677 in the last ninety days. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Primerica

A number of institutional investors and hedge funds have recently bought and sold shares of PRI. American Century Companies Inc. increased its holdings in Primerica by 55.7% in the 1st quarter. American Century Companies Inc. now owns 13,707 shares of the financial services provider’s stock worth $1,875,000 after purchasing an additional 4,901 shares in the last quarter. US Bancorp DE increased its stake in shares of Primerica by 1,844.1% in the first quarter. US Bancorp DE now owns 1,983 shares of the financial services provider’s stock valued at $272,000 after buying an additional 1,881 shares during the period. HighTower Advisors LLC increased its stake in shares of Primerica by 4.7% in the first quarter. HighTower Advisors LLC now owns 6,839 shares of the financial services provider’s stock valued at $939,000 after buying an additional 307 shares during the period. Bank of Montreal Can increased its stake in shares of Primerica by 0.8% in the first quarter. Bank of Montreal Can now owns 24,752 shares of the financial services provider’s stock valued at $3,413,000 after buying an additional 199 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of Primerica by 33.4% in the first quarter. MetLife Investment Management LLC now owns 25,533 shares of the financial services provider’s stock valued at $3,493,000 after buying an additional 6,396 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

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.