Primerica, Inc. (NYSE:PRI) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Primerica, with six hold ratings and three buys. The average 12-month price target is $315.57, above the reported share price of $292.44.
• Primerica reported quarterly EPS of $6.41, beating estimates of $6.03, while revenue increased 9% year over year to $865.07 million but fell short of expectations.
• Insiders sold 3,579 shares worth approximately $1.13 million over the past 90 days, while the company announced a quarterly dividend of $1.20 per share, implying a 1.6% annual yield.

Primerica, Inc. (NYSE:PRI - Get Free Report) has been assigned an average recommendation of "Hold" from the nine analysts that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $315.5714.

PRI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $323.00 to $335.00 and gave the company a "market perform" rating in a research report on Tuesday, August 11th. Weiss Ratings cut Primerica from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Jefferies Financial Group lifted their target price on Primerica from $266.00 to $268.00 and gave the company a "hold" rating in a research report on Friday, July 10th. Truist Financial reissued a "hold" rating and set a $320.00 price target (down from $370.00) on shares of Primerica in a report on Thursday, August 27th. Finally, Morgan Stanley upped their price target on Primerica from $291.00 to $316.00 and gave the stock an "equal weight" rating in a research report on Monday, August 24th.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $312.65, for a total transaction of $562,770.00. Following the transaction, the president owned 8,011 shares of the company's stock, valued at $2,504,639.15. The trade was a 18.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $320.20, for a total transaction of $480,300.00. Following the transaction, the chief executive officer directly owned 32,196 shares in the company, valued at $10,309,159.20. This represents a 4.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 3,579 shares of company stock valued at $1,130,573. 0.63% of the stock is owned by corporate insiders.

Institutional Trading of Primerica

Several institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in Primerica in the 2nd quarter worth $26,000. SJS Investment Consulting Inc. raised its holdings in Primerica by 176.2% during the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 74 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in shares of Primerica in the second quarter valued at about $29,000. Root Financial Partners LLC lifted its position in shares of Primerica by 52.6% in the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 61 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Primerica by 68.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider's stock worth $47,000 after acquiring an additional 73 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Primerica Trading Up 1.2%

Shares of NYSE PRI opened at $292.44 on Friday. The firm has a 50 day moving average of $305.87 and a 200 day moving average of $281.37. The firm has a market capitalization of $9.00 billion, a price-to-earnings ratio of 11.74 and a beta of 0.86. Primerica has a 12-month low of $230.09 and a 12-month high of $327.28.

Primerica (NYSE:PRI - Get Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating analysts' consensus estimates of $6.03 by $0.38. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The business had revenue of $865.07 million during the quarter, compared to analysts' expectations of $881.00 million. During the same period in the prior year, the company earned $5.46 earnings per share. The firm's revenue was up 9.0% on a year-over-year basis. Sell-side analysts predict that Primerica will post 25.2 EPS for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be paid a dividend of $1.20 per share. The ex-dividend date is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. Primerica's payout ratio is 19.28%.

Primerica Company Profile

Primerica, Inc is a financial services company that helps middle-income households in the United States and Canada address their insurance, investment and retirement needs. The company primarily distributes its products through a network of independent representatives who provide financial education and assistance to clients.

Primerica's principal offerings include term life insurance, mutual funds and other investment products, annuities, managed investments and retirement solutions. Through its subsidiaries and affiliated providers, the company also offers products and services related to mortgage lending, debt consolidation and other financial needs.

The company was founded in 1977 as A.L.

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