Primerica (NYSE:PRI) Shares Up 0.6% – Time to Buy?

Primerica, Inc. (NYSE:PRI)’s share price was up 0.6% on Thursday . The stock traded as high as $291.26 and last traded at $291.25. Approximately 14,054 shares traded hands during trading, a decline of 91% from the average daily volume of 153,744 shares. The stock had previously closed at $289.39.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. Piper Sandler reduced their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. TD Cowen increased their price target on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley cut their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus price target of $309.86.

Primerica Stock Performance

The company has a fifty day moving average price of $285.85 and a two-hundred day moving average price of $280.46. The company has a market cap of $9.48 billion, a P/E ratio of 20.73 and a beta of 1.12.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Research analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. This is a positive change from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. Primerica’s dividend payout ratio (DPR) is currently 30.25%.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock valued at $1,476,575 in the last quarter. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Primerica

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Colonial Trust Co SC bought a new position in Primerica during the fourth quarter worth $25,000. True Wealth Design LLC bought a new position in Primerica in the 4th quarter valued at $27,000. Prospera Private Wealth LLC bought a new position in Primerica during the third quarter worth about $31,000. Golden State Wealth Management LLC bought a new position in Primerica in the 4th quarter worth approximately $33,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Primerica by 129.1% in the fourth 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 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.