Primerica (NYSE:PRI) Stock Price Up 0.7% – Here’s What Happened

Primerica, Inc. (NYSE:PRI)’s share price rose 0.7% during trading on Monday . The company traded as high as $286.16 and last traded at $285.26. Approximately 39,096 shares changed hands during trading, a decline of 76% from the average daily volume of 163,602 shares. The stock had previously closed at $283.33.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. 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 target on the stock. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods lifted their price objective on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Piper Sandler cut their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, Morgan Stanley decreased their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Six research 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 price target of $309.86.

Primerica Stock Up 0.4 %

The firm has a market capitalization of $9.45 billion, a PE ratio of 20.69 and a beta of 1.12. The business has a 50-day moving average price of $286.37 and a 200-day moving average price of $281.97.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, equities research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share 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 given a dividend of $1.04 per share. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock worth $1,476,575 in the last ninety days. 0.85% of the stock is owned by insiders.

Institutional Trading of Primerica

Several institutional investors and hedge funds have recently bought and sold shares of PRI. Geode Capital Management LLC increased its position in shares of Primerica by 3.9% during the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after acquiring an additional 25,951 shares during the last quarter. Barclays PLC increased its holdings in Primerica by 108.1% in the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after purchasing an additional 10,635 shares during the last quarter. Sylvest Advisors LLC purchased a new stake in Primerica in the fourth quarter valued at approximately $543,000. Oak Thistle LLC lifted its stake in Primerica by 64.9% during the fourth 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, Los Angeles Capital Management LLC boosted its position in shares of Primerica by 10.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after buying an additional 11,612 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

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.