Primerica (NYSE:PRI) Stock Price Down 1.1% – Here’s Why

Shares of Primerica, Inc. (NYSE:PRI) fell 1.1% on Monday . The stock traded as low as $268.12 and last traded at $268.61. 15,150 shares traded hands during trading, a decline of 90% from the average session volume of 156,245 shares. The stock had previously closed at $271.50.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PRI shares. Truist Financial lifted their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. TD Cowen boosted their price target 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. Piper Sandler dropped their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Finally, StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $296.33.

Primerica Price Performance

The business’s 50-day simple moving average is $287.63 and its two-hundred day simple moving average is $263.45. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 20.61 and a beta of 1.09.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. During the same period in the previous year, the business earned $4.28 EPS. Primerica’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Thursday, November 21st. Primerica’s payout ratio is 27.50%.

Primerica declared that its board has approved a stock buyback plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PRI. V Square Quantitative Management LLC purchased a new position in Primerica in the third quarter valued at about $31,000. Prospera Private Wealth LLC acquired a new stake in Primerica in the third quarter valued at approximately $31,000. UMB Bank n.a. grew its position in Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Primerica by 629.2% during the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 302 shares in the last quarter. Hedge funds and other 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.