Primerica, Inc. (PRI) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Primerica, Inc. (NYSE:PRI) have earned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $117.83.
Separately, Credit Suisse Group began coverage on Primerica in a report on Friday, January 18th. They set an “outperform” rating and a $135.00 price objective on the stock.
In other news, VP Alison S. Rand sold 2,000 shares of Primerica stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $125.05, for a total value of $250,100.00. Following the completion of the transaction, the vice president now owns 14,545 shares in the company, valued at $1,818,852.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William A. Kelly sold 5,000 shares of Primerica stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $122.85, for a total transaction of $614,250.00. Following the completion of the transaction, the insider now owns 13,776 shares of the company’s stock, valued at approximately $1,692,381.60. The disclosure for this sale can be found here. Insiders sold 13,249 shares of company stock valued at $1,620,280 in the last quarter. 0.89% of the stock is currently owned by corporate insiders.
NYSE PRI traded up $2.11 during trading on Tuesday, reaching $125.33. 490,395 shares of the company traded hands, compared to its average volume of 210,203. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 17.10 and a beta of 1.42. Primerica has a 1-year low of $90.05 and a 1-year high of $128.35.
Primerica (NYSE:PRI) last released its quarterly earnings data on Thursday, February 7th. The financial services provider reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.13. The company had revenue of $487.33 million for the quarter, compared to the consensus estimate of $486.75 million. Primerica had a return on equity of 22.63% and a net margin of 17.06%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 earnings per share. Equities analysts expect that Primerica will post 8.13 EPS for the current year.
Primerica declared that its board has initiated a share repurchase plan on Thursday, February 7th that permits the company to repurchase $275.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 5.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 20th were paid a $0.34 dividend. The ex-dividend date was Tuesday, February 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.09%. This is a boost from Primerica’s previous quarterly dividend of $0.25. Primerica’s payout ratio is 18.55%.
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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