Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Primerica, Inc. (NYSE:PRI) in a research note released on Friday morning. Keefe, Bruyette & Woods currently has a $95.00 price objective on the financial services provider’s stock.
A number of other equities research analysts have also weighed in on PRI. BidaskClub raised shares of Primerica from a buy rating to a strong-buy rating in a research note on Tuesday, August 1st. Wells Fargo & Company reaffirmed a hold rating on shares of Primerica in a research note on Tuesday, August 8th. Zacks Investment Research lowered shares of Primerica from a hold rating to a sell rating in a research note on Friday, August 11th. Finally, SunTrust Banks, Inc. lowered shares of Primerica from a buy rating to a hold rating in a research note on Thursday, October 19th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $90.50.
Shares of Primerica (NYSE:PRI) opened at $100.10 on Friday. The stock has a market cap of $4,407.11, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. Primerica has a twelve month low of $67.40 and a twelve month high of $100.65.
Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.09. The business had revenue of $427.30 million for the quarter, compared to analyst estimates of $425.83 million. Primerica had a net margin of 14.55% and a return on equity of 18.94%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 EPS. equities analysts anticipate that Primerica will post 5.36 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Thursday, November 16th. Primerica’s payout ratio is 15.56%.
In related news, VP Gregory C. Pitts sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $92.40, for a total transaction of $462,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Alison S. Rand sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $76.50, for a total transaction of $153,000.00. Following the sale, the vice president now directly owns 35,385 shares in the company, valued at approximately $2,706,952.50. The disclosure for this sale can be found here. Insiders have sold a total of 8,301 shares of company stock worth $715,073 in the last ninety days. Insiders own 0.86% of the company’s stock.
A number of large investors have recently bought and sold shares of PRI. Teachers Advisors LLC boosted its stake in Primerica by 2.7% during the first quarter. Teachers Advisors LLC now owns 84,661 shares of the financial services provider’s stock worth $6,959,000 after acquiring an additional 2,239 shares in the last quarter. KCG Holdings Inc. bought a new stake in Primerica during the first quarter worth about $390,000. Capstone Asset Management Co. boosted its stake in Primerica by 3.6% during the second quarter. Capstone Asset Management Co. now owns 5,803 shares of the financial services provider’s stock worth $440,000 after acquiring an additional 200 shares in the last quarter. Bank of Montreal Can boosted its stake in Primerica by 18.1% during the second quarter. Bank of Montreal Can now owns 7,885 shares of the financial services provider’s stock worth $598,000 after acquiring an additional 1,209 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Primerica by 4.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 17,010 shares of the financial services provider’s stock worth $1,289,000 after acquiring an additional 733 shares in the last quarter. 93.83% of the stock is currently owned by institutional investors and hedge funds.
Primerica Company Profile
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. 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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