Primerica (NYSE:PRI) Price Target Raised to $250.00 at Morgan Stanley

Primerica (NYSE:PRI - Free Report) had its price objective hoisted by Morgan Stanley from $245.00 to $250.00 in a research report report published on Monday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider's stock.

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

Primerica Price Performance

Primerica stock traded down $9.05 during midday trading on Monday, hitting $213.04. 393,884 shares of the stock were exchanged, compared to its average volume of 130,825. Primerica has a 1 year low of $173.00 and a 1 year high of $256.56. The firm has a market cap of $7.39 billion, a P/E ratio of 13.42 and a beta of 1.06. The company has a 50 day moving average price of $244.98 and a two-hundred day moving average price of $221.64.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.27 by ($0.02). Primerica had a return on equity of 27.83% and a net margin of 20.37%. The firm had revenue of $726.34 million for the quarter, compared to analysts' expectations of $723.64 million. During the same period last year, the firm earned $3.49 EPS. The business's quarterly revenue was up 5.7% on a year-over-year basis. As a group, analysts predict that Primerica will post 17.76 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were given a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. This is an increase from Primerica's previous quarterly dividend of $0.65. Primerica's payout ratio is presently 18.89%.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the sale, the president now owns 13,259 shares of the company's stock, valued at approximately $3,227,373.19. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, President Peter W. Schneider sold 1,500 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the sale, the president now owns 13,259 shares of the company's stock, valued at approximately $3,227,373.19. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the business's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total transaction of $58,455.54. Following the sale, the insider now directly owns 100 shares of the company's stock, valued at approximately $24,981. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,708 shares of company stock valued at $1,648,677. Insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On Primerica

A number of institutional investors have recently modified their holdings of the business. ORG Partners LLC acquired a new position in Primerica during the 4th quarter valued at about $26,000. Arlington Trust Co LLC acquired a new position in Primerica during the 3rd quarter valued at about $25,000. LWM Advisory Services LLC acquired a new position in Primerica during the 3rd quarter valued at about $26,000. Sound Income Strategies LLC boosted its stake in Primerica by 121.9% during the 4th quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 128 shares during the period. Finally, Covestor Ltd boosted its stake in Primerica by 74.7% during the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 109 shares during the period. Institutional investors own 90.88% of the company's stock.

About Primerica

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.