Primerica (NYSE:PRI) Stock Price Up 0.1% – Here’s Why

Primerica, Inc. (NYSE:PRI)’s share price rose 0.1% during mid-day trading on Wednesday . The company traded as high as $288.05 and last traded at $282.77. Approximately 15,854 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 135,889 shares. The stock had previously closed at $282.56.

Analyst Upgrades and Downgrades

PRI has been the subject of a number of recent research reports. TD Cowen lifted their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Truist Financial lifted their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods reduced their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Piper Sandler reduced their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Finally, StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $303.00.

Primerica Trading Up 0.6 %

The business’s fifty day moving average price is $286.23 and its 200 day moving average price is $268.58. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 21.71 and a beta of 1.11.

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

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.27%. Primerica’s dividend payout ratio is currently 27.50%.

Primerica declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primerica

Institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Primerica during the 3rd quarter worth $31,000. Prospera Private Wealth LLC purchased a new stake in shares of Primerica during the 3rd quarter worth $31,000. UMB Bank n.a. boosted its position in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares in the last quarter. Larson Financial Group LLC boosted its position 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 in the last quarter. Finally, Quarry LP boosted its position in shares of Primerica by 629.2% during the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 302 shares in the last quarter. 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.