Primerica (NYSE:PRI) Stock Price Up 1.6% – Here’s What Happened

Shares of Primerica, Inc. (NYSE:PRI) were up 1.6% on Friday . The stock traded as high as $281.64 and last traded at $281.19. Approximately 13,817 shares traded hands during trading, a decline of 90% from the average daily volume of 141,266 shares. The stock had previously closed at $276.70.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PRI. BMO Capital Markets began coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target on the stock. Morgan Stanley reduced their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Keefe, Bruyette & Woods increased their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Piper Sandler reduced their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Finally, TD Cowen increased their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $309.86.

Primerica Stock Up 3.3 %

The company’s fifty day moving average is $284.60 and its two-hundred day moving average is $279.68. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of 20.78 and a beta of 1.12.

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

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a dividend of $1.04 per share. The ex-dividend date was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the sale, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Primerica

Institutional investors have recently modified their holdings of the business. Colonial Trust Co SC acquired a new position in shares of Primerica in the 4th quarter valued at $25,000. True Wealth Design LLC acquired a new position in shares of Primerica in the 4th quarter valued at $27,000. Prospera Private Wealth LLC acquired a new position in shares of Primerica in the 3rd quarter valued at $31,000. Golden State Wealth Management LLC acquired a new position in shares of Primerica in the 4th quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 71 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

About Primerica

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.