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Primerica, Inc. (NYSE:PRI) Receives Consensus Rating of "Hold" from Brokerages

Defense World · Aug 9, 2022 01:11

Shares of Primerica, Inc. (NYSE:PRI – Get Rating) have been assigned a consensus recommendation of "Hold" from the seven brokerages that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $158.40.

Several research analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Primerica from $148.00 to $132.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 6th. Truist Financial decreased their target price on shares of Primerica from $163.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, July 1st.

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Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 4,000 shares of Primerica stock in a transaction on Friday, May 20th. The shares were sold at an average price of $119.32, for a total value of $477,280.00. Following the sale, the chief executive officer now owns 62,215 shares in the company, valued at $7,423,493.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.85% of the stock is owned by insiders.

Institutional Trading of Primerica

Large investors have recently added to or reduced their stakes in the stock. Credit Suisse AG boosted its holdings in Primerica by 1.0% in the fourth quarter. Credit Suisse AG now owns 47,046 shares of the financial services provider's stock valued at $7,210,000 after acquiring an additional 487 shares in the last quarter. Granite Investment Partners LLC boosted its holdings in Primerica by 11.8% in the fourth quarter. Granite Investment Partners LLC now owns 22,658 shares of the financial services provider's stock valued at $3,473,000 after acquiring an additional 2,391 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of Primerica by 282.3% during the 4th quarter. SkyView Investment Advisors LLC now owns 11,189 shares of the financial services provider's stock valued at $578,000 after buying an additional 8,262 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Primerica by 0.6% during the 4th quarter. Northern Trust Corp now owns 318,756 shares of the financial services provider's stock valued at $48,856,000 after buying an additional 1,777 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Primerica by 0.8% during the 4th quarter. State Street Corp now owns 1,046,597 shares of the financial services provider's stock valued at $160,412,000 after buying an additional 7,858 shares in the last quarter. Institutional investors own 90.90% of the company's stock.

Primerica Stock Performance

PRI stock opened at $129.06 on Tuesday. The company has a market capitalization of $5.02 billion, a PE ratio of 14.39 and a beta of 1.29. Primerica has a one year low of $110.22 and a one year high of $179.51. The company's 50 day moving average price is $121.84 and its two-hundred day moving average price is $129.71.

Primerica (NYSE:PRI – Get Rating) last posted its quarterly earnings results on Monday, August 8th. The financial services provider reported $2.86 EPS for the quarter, missing the consensus estimate of $3.04 by ($0.18). The business had revenue of $668.68 million for the quarter, compared to analysts' expectations of $707.24 million. Primerica had a return on equity of 22.07% and a net margin of 12.92%. The company's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $3.25 earnings per share. On average, research analysts predict that Primerica will post 11.63 EPS for the current year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 14th. Investors of record on Monday, August 22nd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.70%. Primerica's payout ratio is 24.53%.

Primerica Company Profile

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Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.