Primerica (NYSE:PRI) Trading Down 0.1% – Here’s Why

Primerica, Inc. (NYSE:PRI)’s stock price was down 0.1% on Friday . The company traded as low as $277.85 and last traded at $278.60. Approximately 10,291 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 137,753 shares. The stock had previously closed at $278.88.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Truist Financial raised their target price 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 lowered their target price 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 cut Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Morgan Stanley upped their price objective on Primerica from $308.00 to $313.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $311.14.

Primerica Stock Performance

The company has a 50 day moving average of $281.95 and a two-hundred day moving average of $276.58. The stock has a market capitalization of $9.12 billion, a PE ratio of 19.87 and a beta of 1.11.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.52%. Primerica’s dividend payout ratio (DPR) is currently 26.18%.

Primerica announced that its board has authorized a share buyback program on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Primerica

A number of large investors have recently bought and sold shares of PRI. Geode Capital Management LLC increased its stake in Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after buying an additional 25,951 shares in the last quarter. Barclays PLC lifted its position in Primerica by 108.1% in the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after buying an additional 10,635 shares during the last quarter. Sylvest Advisors LLC purchased a new position in Primerica during the 4th quarter valued at about $543,000. Oak Thistle LLC grew its stake in Primerica by 64.9% during the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after purchasing an additional 1,943 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Primerica in the third quarter valued at approximately $3,710,000. 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.