Primerica Inc. (NYSE:PRI) has earned a consensus recommendation of “Buy” from the five analysts that are covering the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $61.50.
PRI has been the topic of several research reports. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Tuesday, July 12th. Keefe, Bruyette & Woods downgraded Primerica from an “outperform” rating to a “market perform” rating and upped their target price for the company from $58.00 to $60.00 in a research report on Tuesday, July 12th. Finally, Wells Fargo & Co. initiated coverage on Primerica in a research report on Thursday. They issued a “market perform” rating on the stock.
Shares of Primerica (NYSE:PRI) traded down 2.6991% during trading on Friday, hitting $55.8799. The stock had a trading volume of 134,842 shares. The firm has a 50 day moving average price of $55.97 and a 200 day moving average price of $52.35. The firm has a market cap of $2.60 billion, a P/E ratio of 13.6392 and a beta of 0.80. Primerica has a 12-month low of $37.09 and a 12-month high of $59.34.
Primerica (NYSE:PRI) last released its earnings results on Monday, August 8th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.13. Primerica had a return on equity of 17.32% and a net margin of 13.90%. The firm had revenue of $379.24 million for the quarter, compared to the consensus estimate of $370.76 million. During the same period in the prior year, the firm earned $0.93 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts expect that Primerica will post $4.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Wednesday, August 24th were given a dividend of $0.18 per share. This is an increase from Primerica’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.25%. The ex-dividend date was Monday, August 22nd. Primerica’s dividend payout ratio (DPR) is currently 17.56%.
In other Primerica news, insider Jeffrey S. Fendler sold 1,000 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $56.02, for a total transaction of $56,020.00. Following the sale, the insider now directly owns 32,988 shares of the company’s stock, valued at approximately $1,847,987.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joel M. Babbit sold 1,406 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $57.31, for a total value of $80,577.86. Following the sale, the director now directly owns 1,915 shares in the company, valued at $109,748.65. The disclosure for this sale can be found here. Company insiders own 1.24% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Primerica during the fourth quarter valued at $19,727,000. First Manhattan Co. increased its stake in shares of Primerica by 2,440.0% in the first quarter. First Manhattan Co. now owns 12,700 shares of the company’s stock valued at $565,000 after buying an additional 12,200 shares in the last quarter. Aperio Group LLC increased its stake in shares of Primerica by 11.1% in the first quarter. Aperio Group LLC now owns 26,134 shares of the company’s stock valued at $1,164,000 after buying an additional 2,602 shares in the last quarter. Nisa Investment Advisors L.L.C. bought a new stake in shares of Primerica during the first quarter valued at $356,000. Finally, Pacad Investment Ltd. bought a new stake in shares of Primerica during the first quarter valued at $423,000.
Primerica Inc (Primerica) distributes financial products to middle-income households. The Company operates through three segments. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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