Primerica (NYSE:PRI) Stock Price Up 0.6% – Here’s Why

Primerica, Inc. (NYSE:PRI) was up 0.6% during mid-day trading on Thursday . The stock traded as high as $291.26 and last traded at $291.25. Approximately 14,054 shares were traded during trading, a decline of 91% from the average daily volume of 153,744 shares. The stock had previously closed at $289.39.

Analysts Set New Price Targets

Several research analysts have issued reports on PRI shares. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. 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. Morgan Stanley cut their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Keefe, Bruyette & Woods lifted their price objective on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler lowered their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $309.86.

Primerica Trading Down 0.4 %

The business’s 50-day moving average is $285.36 and its two-hundred day moving average is $280.25. The stock has a market capitalization of $9.59 billion, a PE ratio of 21.02 and a beta of 1.12.

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

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.44%. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s payout ratio is 30.25%.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 2,000 shares of the business’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 completion of the transaction, the president now owns 13,301 shares in the company, valued at $3,762,852.90. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the transaction, the insider now owns 200 shares of the company’s stock, valued at $56,030. This trade represents a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 in the last 90 days. 0.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Primerica

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc raised its position in shares of Primerica by 3.5% during the third quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 36 shares during the period. Mariner LLC grew its holdings in Primerica by 1.4% during the fourth quarter. Mariner LLC now owns 2,611 shares of the financial services provider’s stock valued at $709,000 after purchasing an additional 36 shares during the last quarter. Kingsview Wealth Management LLC raised its position in shares of Primerica by 0.7% in the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after purchasing an additional 43 shares during the period. Dana Investment Advisors Inc. boosted its holdings in shares of Primerica by 1.2% during the 4th quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock worth $1,012,000 after buying an additional 45 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

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.