Primerica, Inc. (PRI) - What Are Brokerages Saying About This Stock?

Key Points

• Analysts maintain a cautious outlook: Primerica has an average “Hold” rating from seven brokerages, with an average 12-month price target of $318.80 versus the stock’s reported $280.71 price.
• Recent trading activity was mixed: Company insiders sold $1.13 million of stock over the past 90 days, while institutional investors own a substantial 90.88% of outstanding shares.
• Quarterly results and shareholder returns were solid: Primerica exceeded earnings expectations with quarterly EPS of $6.41 and revenue growth of 9% year over year, while maintaining a $1.20 quarterly dividend, equal to a 1.7% yield.

Shares of Primerica, Inc. (NYSE:PRI - Get Free Report) have been given an average rating of "Hold" by the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $318.80.

PRI has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on Primerica from $291.00 to $316.00 and gave the stock an "equal weight" rating in a report on Monday, August 24th. Weiss Ratings cut shares of Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Jefferies Financial Group boosted their price target on Primerica from $266.00 to $268.00 and gave the company a "hold" rating in a report on Friday, July 10th. Keefe, Bruyette & Woods decreased their target price on shares of Primerica from $335.00 to $330.00 and set a "market perform" rating for the company in a research report on Friday, October 9th. Finally, Truist Financial downgraded shares of Primerica from a "buy" rating to a "hold" rating and cut their target price for the company from $370.00 to $320.00 in a research report on Thursday, August 27th.

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $320.20, for a total transaction of $480,300.00. Following the sale, the chief executive officer directly owned 32,196 shares in the company, valued at approximately $10,309,159.20. The trade was a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $312.65, for a total transaction of $562,770.00. Following the sale, 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 SEC filing for this sale provides additional information. 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 ninety days. Corporate insiders own 0.63% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PRI. Crossmark Global Holdings Inc. increased its holdings in shares of Primerica by 125.5% in the third quarter. Crossmark Global Holdings Inc. now owns 21,078 shares of the financial services provider's stock worth $5,741,000 after buying an additional 11,731 shares during the period. BlackRock Inc. acquired a new position in Primerica in the 2nd quarter worth approximately $848,161,000. Bank of America Corp DE acquired a new position in shares of Primerica during the second quarter valued at approximately $26,769,000. Squarepoint Ops LLC raised its stake in shares of Primerica by 51.2% in the 2nd quarter. Squarepoint Ops LLC now owns 28,570 shares of the financial services provider's stock valued at $8,120,000 after acquiring an additional 9,678 shares during the period. Finally, KBC Group NV raised its stake in Primerica by 2,664.8% in the first quarter. KBC Group NV now owns 24,496 shares of the financial services provider's stock valued at $6,136,000 after buying an additional 23,610 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Trading Down 0.1%

NYSE:PRI opened at $280.71 on Monday. The firm has a market capitalization of $8.64 billion, a PE ratio of 11.27 and a beta of 0.88. The stock has a 50 day moving average of $284.11 and a 200-day moving average of $278.50. Primerica has a 52 week low of $230.09 and a 52 week high of $327.28.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.03 by $0.38. Primerica had a return on equity of 32.45% and a net margin of 23.20%. 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 previous year, the business posted $5.46 earnings per share. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, analysts predict that Primerica will post 25.22 EPS for the current fiscal year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 21st were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $4.80 annualized dividend and a yield of 1.7%. Primerica's payout ratio is 19.28%.

About Primerica

Primerica, Inc is a financial services company that focuses on serving middle-income households in the United States and Canada, as well as families in Puerto Rico. The company distributes its products and services through a network of independent representatives who provide financial education and help clients address protection, savings and investment needs.

Primerica's principal offerings include term life insurance, investment and savings products, retirement planning solutions, and strategies for managing debt.

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