StockNews.com Upgrades Primerica (NYSE:PRI) to Buy

by · The Markets Daily

StockNews.com upgraded shares of Primerica (NYSE:PRI – Free Report) from a hold rating to a buy rating in a research report released on Friday morning.

A number of other brokerages have also recently commented on PRI. Keefe, Bruyette & Woods increased their target price on Primerica from $255.00 to $275.00 and gave the company a market perform rating in a report on Wednesday, July 17th. Jefferies Financial Group raised their price objective on Primerica from $239.00 to $249.00 and gave the company a hold rating in a report on Thursday, July 18th. Truist Financial upped their target price on shares of Primerica from $275.00 to $300.00 and gave the stock a buy rating in a report on Friday, August 9th. Piper Sandler assumed coverage on shares of Primerica in a research note on Friday, August 30th. They issued a neutral rating and a $283.00 price target on the stock. Finally, Morgan Stanley upped their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an equal weight rating in a research note on Monday, August 19th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Primerica presently has an average rating of Hold and a consensus price target of $275.20.

Get Our Latest Stock Report on PRI

Primerica Stock Up 2.2 %

NYSE:PRI opened at $274.24 on Friday. Primerica has a 52 week low of $184.76 and a 52 week high of $274.52. The stock’s 50-day moving average price is $257.54 and its 200-day moving average price is $241.21. The stock has a market capitalization of $9.28 billion, a PE ratio of 16.69 and a beta of 1.09.

Primerica (NYSE:PRI – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The business had revenue of $803.38 million during the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The business’s revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.99 earnings per share. Sell-side analysts expect that Primerica will post 18.03 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were issued a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.31%. This is a positive change from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio is currently 21.91%.

Insider Buying and Selling

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the sale, the chief executive officer now owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the transaction, the president now owns 10,259 shares of the company’s stock, valued at $2,678,727.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the sale, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,500 shares of company stock worth $1,657,015. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. ORG Partners LLC purchased a new stake in shares of Primerica in the 2nd quarter valued at approximately $30,000. Benjamin F. Edwards & Company Inc. lifted its stake in Primerica by 493.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 148 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Primerica by 45.5% during the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after buying an additional 60 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Primerica during the second quarter worth $71,000. Finally, O Dell Group LLC acquired a new stake in shares of Primerica in the fourth quarter valued at $153,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

About Primerica

(Get Free Report)

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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