Primerica, Inc. (NYSE:PRI) Receives Average Rating of "Hold" from Brokerages

Shares of Primerica, Inc. (NYSE:PRI - Get Free Report) have been assigned an average rating of "Hold" from the seven ratings firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $308.00.

A number of brokerages recently issued reports on PRI. Morgan Stanley increased their target price on Primerica from $274.00 to $296.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods lowered their price objective on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th.

Institutional Investors Weigh In On Primerica

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Primerica by 4,150.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,123 shares of the financial services provider's stock worth $1,120,000 after acquiring an additional 4,026 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Primerica by 27.3% in the fourth quarter. Allworth Financial LP now owns 331 shares of the financial services provider's stock valued at $97,000 after purchasing an additional 71 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of Primerica by 3.0% during the fourth quarter. Sanctuary Advisors LLC now owns 5,803 shares of the financial services provider's stock valued at $1,690,000 after purchasing an additional 171 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Primerica by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider's stock worth $301,000 after purchasing an additional 54 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock worth $58,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 90.88% of the company's stock.

Primerica Price Performance

Shares of PRI opened at $259.87 on Friday. The stock has a 50-day moving average of $264.67 and a 200-day moving average of $275.38. The company has a market cap of $8.60 billion, a PE ratio of 17.48 and a beta of 0.99. Primerica has a one year low of $230.98 and a one year high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share for the quarter, topping analysts' consensus estimates of $4.77 by $0.25. Primerica had a return on equity of 32.30% and a net margin of 15.82%. The business had revenue of $803.56 million for the quarter, compared to the consensus estimate of $783.54 million. During the same period in the prior year, the business earned $3.91 EPS. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. Analysts expect that Primerica will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd were issued a $1.04 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.60%. Primerica's dividend payout ratio is presently 27.98%.

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.

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