Primerica (NYSE:PRI) Stock Price Down 1% – Time to Sell?

Primerica, Inc. (NYSE:PRI) fell 1% on Monday . The company traded as low as $280.30 and last traded at $281.29. 134,291 shares changed hands during mid-day trading, an increase of 7% from the average session volume of 125,765 shares. The stock had previously closed at $284.14.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PRI. 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 report on Friday, November 8th. Piper Sandler dropped their price target 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. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, TD Cowen boosted their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $311.14.

Primerica Stock Down 0.6 %

The business’s 50 day simple moving average is $282.05 and its two-hundred day simple moving average is $276.28. The stock has a market cap of $9.36 billion, a P/E ratio of 20.41 and a beta of 1.11.

Primerica (NYSE:PRI) last posted its earnings results 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, research analysts forecast that Primerica, Inc. will post 20.53 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a $1.04 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.48%. Primerica’s payout ratio is currently 26.18%.

Primerica announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.

Institutional Trading of Primerica

A number of institutional investors have recently bought and sold shares of the company. Burgundy Asset Management Ltd. boosted its position in Primerica by 1.7% during the fourth 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 last quarter. Geode Capital Management LLC boosted its position in Primerica by 11.9% during the fourth 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 last quarter. Northern Trust Corp boosted its position in Primerica by 15.6% during the fourth 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 last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Primerica by 1.3% during the fourth 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 last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in Primerica by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 159,774 shares of the financial services provider’s stock valued at $43,366,000 after acquiring an additional 1,484 shares during the last quarter. 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.