Other analysts have also issued reports about the company. Keefe, Bruyette & Woods lowered Primerica from an outperform rating to a market perform rating and boosted their price objective for the company from $58.00 to $60.00 in a research note on Tuesday, July 12th. Zacks Investment Research upgraded Primerica from a hold rating to a buy rating and set a $65.00 price objective on the stock in a research note on Tuesday, July 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Primerica currently has a consensus rating of Buy and a consensus target price of $61.50.
Primerica (NYSE:PRI) opened at 53.86 on Thursday. The stock’s 50 day moving average price is $56.16 and its 200-day moving average price is $52.66. The company has a market capitalization of $2.50 billion, a P/E ratio of 13.15 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 quarterly earnings data on Monday, August 8th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.13. Primerica had a return on equity of 17.32% and a net margin of 13.90%. The company had revenue of $379.24 million for the quarter, compared to analyst estimates of $370.76 million. During the same period in the previous year, the company posted $0.93 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that Primerica will post $4.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Wednesday, August 24th were paid a $0.18 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Monday, August 22nd. Primerica’s dividend payout ratio is currently 17.56%.
In other news, insider Jeffrey S. Fendler sold 1,000 shares of the company’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $56.02, for a total value of $56,020.00. Following the completion of the transaction, the insider now directly owns 32,988 shares in the company, valued at approximately $1,847,987.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael C. Adams sold 2,500 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $51.99, for a total value of $129,975.00. Following the completion of the transaction, the insider now owns 40,589 shares of the company’s stock, valued at $2,110,222.11. The disclosure for this sale can be found here. 1.24% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in Primerica by 13.9% in the second quarter. Macquarie Group Ltd. now owns 434,377 shares of the company’s stock worth $24,864,000 after buying an additional 53,033 shares during the last quarter. Mason Street Advisors LLC purchased a new position in Primerica during the second quarter worth about $1,228,000. Royal Bank of Canada boosted its position in Primerica by 267.6% in the second quarter. Royal Bank of Canada now owns 151,529 shares of the company’s stock worth $8,673,000 after buying an additional 110,313 shares during the last quarter. Lebenthal Holdings LLC purchased a new position in Primerica during the second quarter worth about $2,609,000. Finally, BW Gestao de Investimentos Ltda. boosted its position in Primerica by 13.6% in the second quarter. BW Gestao de Investimentos Ltda. now owns 9,250 shares of the company’s stock worth $529,000 after buying an additional 1,105 shares during the last quarter.
Primerica Company Profile
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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