Primerica (NYSE:PRI) Stock Price Down 0.1% – What’s Next?

Primerica, Inc. (NYSE:PRI)’s stock price dropped 0.1% during mid-day trading on Tuesday . The company traded as low as $288.06 and last traded at $290.29. Approximately 16,665 shares changed hands during trading, a decline of 89% from the average daily volume of 153,197 shares. The stock had previously closed at $290.66.

Wall Street Analysts Forecast Growth

PRI has been the topic of a number of recent research reports. TD Cowen raised their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. BMO Capital Markets assumed coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. Piper Sandler lowered their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Morgan Stanley lowered their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $309.86.

Primerica Trading Up 0.5 %

The company has a market capitalization of $9.62 billion, a PE ratio of 21.04 and a beta of 1.12. The business’s fifty day moving average is $285.36 and its two-hundred day moving average is $280.25.

Primerica (NYSE:PRI) last announced 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%. As a group, equities research analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a $1.04 dividend. 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 1.44%. The ex-dividend date was Friday, February 21st. Primerica’s payout ratio is presently 30.25%.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of Primerica 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 completion of the sale, the president now directly owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,234 shares of company stock valued at $1,476,575. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

A number of hedge funds have recently modified their holdings of the business. Burgundy Asset Management Ltd. grew its position in shares of Primerica by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider’s stock valued at $349,717,000 after acquiring an additional 21,208 shares during the period. Geode Capital Management LLC grew its position in shares of Primerica by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock valued at $211,691,000 after acquiring an additional 82,921 shares during the period. Northern Trust Corp grew its position in shares of Primerica by 15.6% during the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider’s stock valued at $94,194,000 after acquiring an additional 46,935 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in shares of Primerica by 1.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 230,736 shares of the financial services provider’s stock valued at $62,626,000 after acquiring an additional 2,905 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Primerica by 0.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 159,774 shares of the financial services provider’s stock worth $43,366,000 after buying an additional 1,484 shares during the period. Institutional investors 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.