Primerica (NYSE:PRI) Shares Up 0.2% – Here’s Why

Primerica, Inc. (NYSE:PRI)’s stock price rose 0.2% during trading on Tuesday . The stock traded as high as $292.49 and last traded at $290.38. Approximately 15,499 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 127,079 shares. The stock had previously closed at $289.94.

Analyst Ratings Changes

PRI has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Piper Sandler reduced their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods dropped their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. TD Cowen upped their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Primerica currently has a consensus rating of “Hold” and an average target price of $304.14.

Primerica Trading Down 0.0 %

The business’s fifty day moving average price is $284.93 and its 200 day moving average price is $272.06. The company has a market capitalization of $9.67 billion, a P/E ratio of 22.15 and a beta of 1.11.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $745.25 million. During the same period last year, the firm posted $4.28 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Primerica, Inc. will post 19.79 EPS for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, November 21st. Primerica’s payout ratio is presently 27.50%.

Primerica announced that its board has authorized a stock repurchase plan on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in shares of Primerica during the 3rd quarter worth approximately $31,000. Prospera Private Wealth LLC acquired a new stake in shares of Primerica during the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC acquired a new stake in shares of Primerica during the 4th quarter worth approximately $33,000. UMB Bank n.a. grew its position in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after buying an additional 54 shares during the period. 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.