Primerica, Inc. (NYSE:PRI) Stock Has Average Target Price of $319.80 According to Analysts

Key Points

• Analysts maintain a cautious outlook: Seven analysts give Primerica an average “Hold” rating, with a consensus 12-month price target of $319.80 versus the reported share price of $273.67.
• Quarterly results exceeded earnings expectations: Primerica reported $6.41 in adjusted earnings per share, above the $6.03 consensus estimate, while revenue rose 9% year over year to $865.07 million but fell short of expectations.
• Primerica continues returning capital to shareholders: The company paid a quarterly dividend of $1.20 per share, equivalent to a $4.80 annualized payout and a 1.8% yield; insiders also sold shares under pre-arranged trading plans.

Primerica, Inc. (NYSE:PRI - Get Free Report) has been given an average rating of "Hold" by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $319.80.

PRI has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price objective on shares of Primerica from $266.00 to $268.00 and gave the company a "hold" rating in a research report on Friday, July 10th. Truist Financial reiterated a "hold" rating and issued a $320.00 target price (down from $370.00) on shares of Primerica in a research report on Thursday, August 27th. Weiss Ratings lowered shares of Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. TD Cowen boosted their price target on shares of Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Primerica from $323.00 to $335.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 11th.

Primerica Trading Down 2.0%

Shares of NYSE PRI opened at $273.67 on Thursday. Primerica has a one year low of $230.09 and a one year high of $327.28. The business has a 50-day moving average price of $295.42 and a two-hundred day moving average price of $284.89. The firm has a market capitalization of $8.42 billion, a PE ratio of 10.99 and a beta of 0.88.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, beating analysts' consensus estimates of $6.03 by $0.38. The company had revenue of $865.07 million for the quarter, compared to the consensus estimate of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The firm's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.46 EPS. Research analysts anticipate that Primerica will post 25.23 EPS for the current year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 21st were paid a $1.20 dividend. The ex-dividend date was Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. Primerica's payout ratio is 19.28%.

Insiders Place Their Bets

In other news, CEO Glenn Williams sold 1,500 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $320.20, for a total transaction of $480,300.00. Following the completion of the sale, the chief executive officer directly owned 32,196 shares of the company's stock, valued at $10,309,159.20. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter Schneider sold 1,800 shares of Primerica stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $312.65, for a total value of $562,770.00. Following the sale, the president owned 8,011 shares of the company's stock, valued at approximately $2,504,639.15. This represents a 18.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,579 shares of company stock valued at $1,130,573 in the last three months. Insiders own 0.63% of the company's stock.

Hedge Funds Weigh In On Primerica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC bought a new stake in Primerica in the second quarter worth approximately $26,000. SJS Investment Consulting Inc. raised its holdings in shares of Primerica by 176.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 74 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Primerica during the 2nd quarter valued at $29,000. Root Financial Partners LLC lifted its stake in shares of Primerica by 52.6% in the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 61 shares during the last quarter. Finally, Steph & Co. lifted its stake in shares of Primerica by 38.0% in the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 90.88% of the company's stock.

Primerica Company Profile

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

Primerica's offerings include term life insurance, investment and savings products, retirement solutions, annuities and other financial services. Through its affiliated businesses and representatives, the company also provides access to products and services designed to help clients manage debt and pursue long-term financial goals.

The company was founded in 1977 as A.L.

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