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

Primerica, Inc. (NYSE:PRI)’s share price was down 0.1% on Wednesday . The company traded as low as $292.17 and last traded at $293.38. Approximately 11,401 shares traded hands during trading, a decline of 91% from the average daily volume of 130,730 shares. The stock had previously closed at $293.53.

Wall Street Analyst Weigh In

PRI has been the topic of a number of recent analyst reports. Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. BMO Capital Markets assumed coverage on shares of Primerica in a report on Thursday. They issued a “market perform” rating and a $311.00 target price for the company. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial boosted their target price 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. Finally, TD Cowen raised their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $304.14.

Primerica Stock Performance

The stock has a market cap of $9.67 billion, a P/E ratio of 22.14 and a beta of 1.11. The firm’s fifty day simple moving average is $285.42 and its 200-day simple moving average is $270.64.

Primerica (NYSE:PRI) last announced its 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. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same quarter last year, the firm earned $4.28 earnings per share. Primerica’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts predict that Primerica, Inc. will post 19.79 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.24%. Primerica’s dividend payout ratio is currently 27.50%.

Primerica declared that its Board of Directors has initiated a stock buyback program 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 purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 owns 36,322 shares in the company, valued at $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

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