Primerica, Inc. (NYSE:PRI) has been assigned a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $114.40.
Several brokerages recently commented on PRI. Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Wednesday, November 14th. ValuEngine lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Finally, Citigroup lowered shares of Primerica from a “neutral” rating to a “sell” rating and upped their price target for the stock from $100.00 to $108.00 in a research report on Tuesday, September 18th.
PRI stock traded down $4.48 on Friday, hitting $104.47. 5,002 shares of the company were exchanged, compared to its average volume of 165,271. Primerica has a twelve month low of $90.05 and a twelve month high of $128.35. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 19.02 and a beta of 1.19.
Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.86 by $0.07. Primerica had a net margin of 21.88% and a return on equity of 21.72%. The firm had revenue of $484.78 million during the quarter, compared to analyst estimates of $478.87 million. During the same quarter in the prior year, the business posted $1.46 earnings per share. Primerica’s revenue for the quarter was up 13.5% compared to the same quarter last year. Sell-side analysts anticipate that Primerica will post 7.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Monday, November 19th. Primerica’s dividend payout ratio (DPR) is 18.12%.
In other Primerica news, Director Barbara A. Yastine sold 1,846 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $124.51, for a total transaction of $229,845.46. Following the completion of the sale, the director now directly owns 12,985 shares in the company, valued at $1,616,762.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William A. Kelly sold 856 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $109.93, for a total transaction of $94,100.08. Following the sale, the insider now owns 14,416 shares of the company’s stock, valued at $1,584,750.88. The disclosure for this sale can be found here. Insiders have sold 10,952 shares of company stock valued at $1,296,711 in the last ninety days. 0.89% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Primerica by 46.5% in the third quarter. FMR LLC now owns 2,187,922 shares of the financial services provider’s stock valued at $263,755,000 after purchasing an additional 694,763 shares during the period. Walthausen & Co. LLC purchased a new position in shares of Primerica in the third quarter valued at $24,938,000. Prana Capital Management LP purchased a new position in shares of Primerica in the second quarter valued at $12,256,000. Macquarie Group Ltd. boosted its stake in shares of Primerica by 22.5% in the third quarter. Macquarie Group Ltd. now owns 653,083 shares of the financial services provider’s stock valued at $78,729,000 after purchasing an additional 120,108 shares during the period. Finally, Cantillon Capital Management LLC boosted its stake in shares of Primerica by 10.3% in the second quarter. Cantillon Capital Management LLC now owns 1,006,041 shares of the financial services provider’s stock valued at $100,202,000 after purchasing an additional 94,295 shares during the period. Institutional investors own 89.57% of the company’s stock.
Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.
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