Primerica (NYSE:PRI) Reaches New 1-Year High Following Analyst Upgrade

Key Points

• Primerica stock hit a new 52-week high after Keefe, Bruyette & Woods lifted its price target to $323 from $305, helping shares trade above $308 intraday.
• Analyst sentiment remains mixed: several firms recently raised targets, but the stock’s overall consensus rating is still Hold with an average target of $298.40.
• Primerica reported better-than-expected quarterly results, posting EPS of $5.96 versus $5.45 expected and revenue of $872.3 million, while also paying a quarterly dividend of $1.20 per share.

Shares of Primerica, Inc. (NYSE:PRI - Get Free Report) hit a new 52-week high on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $305.00 to $323.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Primerica traded as high as $308.55 and last traded at $308.7250, with a volume of 170354 shares changing hands. The stock had previously closed at $304.56.

A number of other equities analysts also recently commented on PRI. Weiss Ratings raised shares of Primerica from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 27th. Morgan Stanley increased their price target on shares of Primerica from $280.00 to $291.00 and gave the company an "equal weight" rating in a research note on Thursday, May 21st. Finally, Jefferies Financial Group raised their price target on shares of Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a report on Friday. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $298.40.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 1,500 shares of the company's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the transaction, the chief executive officer directly owned 33,696 shares in the company, valued at approximately $9,451,391.04. This represents a 4.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president directly owned 9,811 shares of the company's stock, valued at $2,743,548.04. The trade was a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.63% of the company's stock.

Institutional Investors Weigh In On Primerica

A number of institutional investors have recently modified their holdings of the company. Vista Investment Partners II LLC purchased a new stake in Primerica during the fourth quarter worth about $1,685,000. M&T Bank Corp boosted its stake in shares of Primerica by 1,155.8% in the fourth quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider's stock valued at $8,303,000 after purchasing an additional 29,578 shares during the period. Prana Capital Management LP grew its holdings in shares of Primerica by 22.8% in the third quarter. Prana Capital Management LP now owns 66,916 shares of the financial services provider's stock valued at $18,575,000 after purchasing an additional 12,432 shares in the last quarter. Moran Wealth Management LLC grew its holdings in shares of Primerica by 168.6% in the fourth quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider's stock valued at $5,302,000 after purchasing an additional 12,881 shares in the last quarter. Finally, Arbejdsmarkedets Tillaegspension purchased a new stake in Primerica during the 4th quarter worth approximately $23,767,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Performance

The stock has a market capitalization of $9.66 billion, a PE ratio of 12.99 and a beta of 0.88. The firm's 50 day moving average is $279.50 and its two-hundred day moving average is $267.30.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, beating the consensus estimate of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The company had revenue of $872.30 million during the quarter, compared to analysts' expectations of $855.36 million. During the same quarter last year, the company posted $5.02 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. On average, analysts anticipate that Primerica, Inc. will post 24.51 EPS for the current year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were issued a $1.20 dividend. The ex-dividend date was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. Primerica's dividend payout ratio (DPR) is 20.13%.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica's core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.

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