Primerica, Inc. (NYSE:PRI) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Primerica, Inc. has received a consensus rating of "Hold" from seven brokerages, with an average target price of approximately $315.29 among analysts.
• The company recently declared a quarterly dividend of $1.04 per share, representing a yield of 1.6%.
• Primerica reported earnings per share of $5.46 for the last quarter, exceeding analyst expectations and showcasing a 21.48% net margin.

Primerica, Inc. (NYSE:PRI - Get Free Report) has been given a consensus rating of "Hold" by the seven research firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $315.2857.

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research note on Monday, August 11th. Morgan Stanley upped their target price on Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Finally, Jefferies Financial Group reduced their target price on Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a report on Monday, August 11th.

Primerica Stock Performance

Shares of NYSE PRI traded down $0.34 during midday trading on Wednesday, reaching $273.42. 418,402 shares of the company traded hands, compared to its average volume of 170,171. The stock's 50-day simple moving average is $266.75 and its 200-day simple moving average is $269.07. Primerica has a 12 month low of $230.98 and a 12 month high of $307.91. The firm has a market cap of $8.86 billion, a PE ratio of 13.51 and a beta of 1.00.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.28. The business had revenue of $796.02 million during the quarter, compared to analyst estimates of $790.99 million. Primerica had a return on equity of 32.42% and a net margin of 21.48%.Primerica's quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.71 EPS. On average, equities research analysts expect that Primerica will post 20.6 EPS for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be paid a $1.04 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $4.16 annualized dividend and a yield of 1.5%. Primerica's payout ratio is 20.55%.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares of the company's stock, valued at approximately $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On Primerica

A number of institutional investors have recently modified their holdings of PRI. Nuveen LLC bought a new stake in Primerica during the first quarter worth $156,019,000. GAMMA Investing LLC grew its stake in shares of Primerica by 39,199.5% during the 1st quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock worth $126,132,000 after acquiring an additional 442,170 shares during the period. AQR Capital Management LLC grew its stake in shares of Primerica by 171.8% during the 1st quarter. AQR Capital Management LLC now owns 315,986 shares of the financial services provider's stock worth $89,907,000 after acquiring an additional 199,715 shares during the period. First Trust Advisors LP lifted its holdings in Primerica by 35.9% during the 2nd quarter. First Trust Advisors LP now owns 437,925 shares of the financial services provider's stock worth $119,847,000 after purchasing an additional 115,754 shares in the last quarter. Finally, Copeland Capital Management LLC purchased a new stake in Primerica during the 2nd quarter worth about $27,425,000. 90.88% of the stock is owned by institutional investors and hedge funds.

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.