Primerica (NYSE:PRI) Trading Down 0.1% – Should You Sell?

Primerica, Inc. (NYSE:PRI) shares were down 0.1% on Friday . The company traded as low as $282.81 and last traded at $284.37. Approximately 8,282 shares changed hands during trading, a decline of 95% from the average daily volume of 152,038 shares. The stock had previously closed at $284.54.

Analysts Set New Price Targets

Several research firms have recently commented on PRI. Morgan Stanley raised their price target on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. TD Cowen boosted their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler assumed coverage on shares of Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective on the stock. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Finally, Truist Financial boosted their price target on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $293.50.

Primerica Trading Down 1.2 %

The firm has a market capitalization of $9.38 billion, a PE ratio of 21.72 and a beta of 1.09. The stock’s 50 day moving average price is $287.60 and its two-hundred day moving average price is $260.86.

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

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.90 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.28%. Primerica’s dividend payout ratio is currently 27.50%.

Primerica declared that its board has authorized a share repurchase plan on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now directly owns 36,322 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Hedge funds have recently modified their holdings of the stock. ORG Partners LLC purchased a new stake in Primerica during the 2nd quarter worth $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Primerica in the third quarter valued at about $31,000. Prospera Private Wealth LLC purchased a new stake in shares of Primerica during the 3rd quarter valued at about $31,000. UMB Bank n.a. lifted its position in 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 acquiring an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

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.