Primerica (NYSE:PRI) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Primerica (NYSE:PRI) from a buy rating to a hold rating in a research report report published on Monday.

A number of other equities research analysts have also issued reports on PRI. Piper Sandler assumed coverage on shares of Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price on the stock. TD Cowen began coverage on Primerica in a report on Wednesday, October 9th. They issued a “buy” rating and a $314.00 target price for the company. Keefe, Bruyette & Woods boosted their target price on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Morgan Stanley increased their price target on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group boosted their price objective on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Six equities 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, the company presently has an average rating of “Hold” and an average target price of $281.67.

Primerica Stock Up 0.2 %

NYSE:PRI opened at $274.89 on Monday. Primerica has a 52 week low of $184.76 and a 52 week high of $284.37. The stock’s fifty day moving average is $267.44 and its two-hundred day moving average is $246.68. The stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 22.01 and a beta of 1.08.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.24. The firm had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. Primerica’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.99 EPS. On average, sell-side analysts expect that Primerica will post 18.13 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were paid a dividend of $0.90 per share. This is a boost from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date was Wednesday, August 21st. This represents a $3.60 annualized dividend and a yield of 1.31%. Primerica’s payout ratio is presently 28.82%.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s 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 completion of the sale, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the completion of the sale, the director now directly owns 15,151 shares of the company’s stock, valued at $3,846,081.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now owns 45,322 shares in the company, valued at $11,446,071.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock valued at $1,657,015 over the last three months. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Primerica

A number of hedge funds have recently modified their holdings of the business. ORG Partners LLC purchased a new position in Primerica during the 2nd quarter worth $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Primerica during the third quarter worth about $31,000. UMB Bank n.a. grew its holdings in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares during the last quarter. Blue Trust Inc. increased its position in Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 60 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in Primerica during the 2nd quarter valued at approximately $71,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

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.