Primerica (NYSE:PRI) Shares Down 0.2% – Time to Sell?

Primerica, Inc. (NYSE:PRI) shares were down 0.2% during mid-day trading on Thursday . The stock traded as low as $290.83 and last traded at $292.58. Approximately 9,184 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 128,286 shares. The stock had previously closed at $293.12.

Analysts Set New Price Targets

Several research analysts have weighed in on PRI shares. TD Cowen raised their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler lowered their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods dropped their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Finally, Truist Financial lifted their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $304.14.

Primerica Stock Down 0.7 %

The company has a market capitalization of $9.67 billion, a P/E ratio of 22.14 and a beta of 1.11. The business has a 50 day simple moving average of $285.15 and a 200-day simple moving average of $271.18.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. During the same period in the previous year, the business posted $4.28 EPS. Primerica’s revenue was up 11.0% on a year-over-year basis. Equities analysts forecast that Primerica, Inc. will post 19.79 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is 27.50%.

Primerica announced that its Board of Directors has authorized a stock repurchase plan on Thursday, November 14th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC boosted its stake in Primerica by 30,726.7% during the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock valued at $161,102,000 after purchasing an additional 678,752 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Primerica by 2,986.9% in the second quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider’s stock valued at $7,595,000 after buying an additional 31,064 shares during the period. Geode Capital Management LLC boosted its stake in Primerica by 3.9% during the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after buying an additional 25,951 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Primerica by 359,742.9% during the third quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock worth $6,679,000 after acquiring an additional 25,182 shares during the period. Finally, Artemis Investment Management LLP bought a new stake in Primerica in the fourth quarter worth about $5,236,000. Institutional investors and hedge funds 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.