Primerica (NYSE:PRI) Stock Price Down 2.5% – What’s Next?

Primerica, Inc. (NYSE:PRI) dropped 2.5% during mid-day trading on Tuesday . The company traded as low as $280.67 and last traded at $282.02. Approximately 19,241 shares were traded during trading, a decline of 86% from the average daily volume of 139,598 shares. The stock had previously closed at $289.11.

Analyst Ratings Changes

PRI has been the subject of a number of recent analyst reports. Morgan Stanley decreased 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. Truist Financial lifted their price target on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. BMO Capital Markets assumed coverage on Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price for the company. TD Cowen boosted their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Piper Sandler reduced their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $309.86.

Primerica Stock Down 2.4 %

The firm has a fifty day moving average price of $283.02 and a 200-day moving average price of $278.50. The firm has a market cap of $9.41 billion, a price-to-earnings ratio of 20.52 and a beta of 1.11.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a $1.04 dividend. The ex-dividend date is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.47%. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Primerica declared that its Board of Directors has authorized a share buyback 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 reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.85% of the stock is owned by insiders.

Institutional Trading of Primerica

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Colonial Trust Co SC acquired a new position in Primerica in the fourth quarter valued at approximately $25,000. True Wealth Design LLC acquired a new position in Primerica in the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC acquired a new position in Primerica in the third quarter valued at approximately $31,000. Golden State Wealth Management LLC acquired a new position in Primerica in the fourth quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 71 shares during the period. 90.88% of the stock is owned by institutional investors.

About Primerica

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.