Primerica (NYSE:PRI) Trading Down 0.1% – Time to Sell?

Primerica, Inc. (NYSE:PRI)’s stock price dropped 0.1% during trading on Tuesday . The company traded as low as $288.06 and last traded at $290.29. Approximately 16,665 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 153,197 shares. The stock had previously closed at $290.66.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BMO Capital Markets initiated coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Keefe, Bruyette & Woods raised their price objective on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. TD Cowen increased their price target 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. Morgan Stanley cut their price objective on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Finally, Piper Sandler lowered their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $309.86.

Primerica Trading Down 0.1 %

The stock has a 50-day moving average price of $284.91 and a 200 day moving average price of $280.02. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 21.13 and a beta of 1.12.

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, beating the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. Equities research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a dividend of $1.04 per share. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.43%. The ex-dividend date was Friday, February 21st. Primerica’s payout ratio is 30.25%.

Insider Activity

In related news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now owns 200 shares in the company, valued at approximately $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock worth $1,476,575 over the last quarter. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primerica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRI. Colonial Trust Co SC purchased a new position in shares of Primerica during the 4th quarter worth $25,000. True Wealth Design LLC purchased a new position in Primerica during the fourth quarter worth about $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Primerica during the third quarter valued at about $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Primerica in the 4th quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 71 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

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.