Primerica (NYSE:PRI) Hits New 12-Month High at $254.44

Primerica, Inc. (NYSE:PRI)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $254.44 and last traded at $254.44, with a volume of 37414 shares traded. The stock had previously closed at $250.07.

Analysts Set New Price Targets

PRI has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $230.00 to $255.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. Morgan Stanley upped their price objective on shares of Primerica from $215.00 to $245.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Truist Financial increased their price target on shares of Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 15th. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Raymond James cut shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $243.20.

Primerica Price Performance

The company has a market capitalization of $8.82 billion, a PE ratio of 15.93 and a beta of 1.06. The company has a 50 day moving average of $242.26 and a two-hundred day moving average of $218.02.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $4.25 EPS for the quarter, missing the consensus estimate of $4.27 by ($0.02). Primerica had a net margin of 20.37% and a return on equity of 27.83%. The business had revenue of $726.34 million for the quarter, compared to analysts’ expectations of $723.64 million. During the same period last year, the business earned $3.49 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that Primerica, Inc. will post 17.75 EPS for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $3.00 dividend on an annualized basis and a yield of 1.19%. This is a boost from Primerica’s previous quarterly dividend of $0.65. Primerica’s payout ratio is presently 18.89%.

Insider Buying and Selling at Primerica

In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total transaction of $302,535.00. Following the sale, the director now owns 16,467 shares in the company, valued at approximately $4,100,283. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total transaction of $302,535.00. Following the completion of the transaction, the director now owns 16,467 shares of the company’s stock, valued at $4,100,283. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $243.41, for a total value of $365,115.00. Following the completion of the sale, the president now directly owns 13,259 shares of the company’s stock, valued at approximately $3,227,373.19. The disclosure for this sale can be found here. Insiders sold a total of 6,708 shares of company stock valued at $1,648,677 in the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Several institutional investors have recently modified their holdings of PRI. American Century Companies Inc. boosted its position in Primerica by 55.7% in the 1st quarter. American Century Companies Inc. now owns 13,707 shares of the financial services provider’s stock valued at $1,875,000 after buying an additional 4,901 shares during the last quarter. US Bancorp DE grew its position in Primerica by 1,844.1% during the 1st quarter. US Bancorp DE now owns 1,983 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 1,881 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Primerica by 4.7% during the 1st quarter. HighTower Advisors LLC now owns 6,839 shares of the financial services provider’s stock valued at $939,000 after buying an additional 307 shares during the period. Bank of Montreal Can lifted its stake in shares of Primerica by 0.8% in the 1st quarter. Bank of Montreal Can now owns 24,752 shares of the financial services provider’s stock valued at $3,413,000 after purchasing an additional 199 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Primerica by 33.4% during the 1st quarter. MetLife Investment Management LLC now owns 25,533 shares of the financial services provider’s stock worth $3,493,000 after purchasing an additional 6,396 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Company Profile

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.