Primerica (NYSE:PRI) hits a new 12-month high of $261.78

VaselineAugust 26, 2024

0 3 minutes read

Primerica, Inc. (NYSE:PRI – Get Your Free Report ) hit a new 52-week high during trading on Friday . The company traded as high as $261.78 and last traded at $261.78, with a volume of 1033 shares changing hands. Shares previously closed at $259.93.

The Wall Street analyst weighs in

Several brokerages weighed in on PRI. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Truist Financial raised their target price on shares of Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley lifted their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group boosted their target price on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $273.25, according to MarketBeat.

Read our latest research report on PRI

0.5% Primerica Trading

Want more great investment ideas?

The company’s 50-day simple moving average is $245.49, and its 200-day simple moving average is $238.11. The company has a market cap of $8.84 billion, a P/E ratio of 15.91 and a beta of 1.09.

Primerica (NYSE:PRI – Get Your Free Report ) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. The firm had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The company’s revenue increased by 16.7% year-on-year. In the same period last year, the firm posted earnings per share of $3.99. As a group, sell-side analysts predict that Primerica, Inc. will post 17.92 EPS for the current fiscal year.

Primerica increases dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.90 per share. The ex-dividend date is Wednesday, August 21. This represents a dividend of $3.60 on an annualized basis and a dividend yield of 1.38%. This is a boost from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio (DPR) is 18.26%.

Indoor activity

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $222.76, for a total value of $668,280.00. Following the transaction, the chief executive officer now owns 48,322 shares of the company’s stock, valued at $10,764,208.72. The sale was disclosed in a legal filing with the SEC, which is accessible via this link. Insiders own 0.85% of the company’s shares.

Institutional Trading of Primerica

A number of hedge funds and other institutional investors have recently made changes to their positions in PRI. Truist Financial Corp boosted its holdings in Primerica by 8.5% in the second quarter. Truist Financial Corp now owns 8,004 shares of the financial services provider’s stock worth $1,894,000 after purchasing an additional 630 shares in the last quarter. Creative Planning boosted its holdings in shares of Primerica by 2.8% in the second quarter. Creative Planning now owns 6,043 shares of the financial services provider’s stock valued at $1,430,000 after buying an additional 167 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Primerica by 24.5% in the second quarter. Algert Global LLC now owns 17,818 shares of the financial services provider’s stock worth $4,215,000 after purchasing an additional 3,509 shares during the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of Primerica by 1.0% in the second quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider’s stock valued at $1,484,000 after purchasing an additional 62 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Primerica in the second quarter valued at $3,514,000. 90.88% of the shares are currently owned by institutional investors and hedge funds.

About Primerica

(Get a free report)

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.