Primerica (NYSE:PRI) Trading Up 0.8% – Here’s Why

Primerica, Inc. (NYSE:PRI) shares rose 0.8% on Thursday . The stock traded as high as $293.58 and last traded at $292.56. Approximately 19,332 shares changed hands during trading, a decline of 88% from the average daily volume of 155,093 shares. The stock had previously closed at $290.19.

Analyst Ratings Changes

Several equities analysts recently issued reports on PRI shares. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods upped their target price on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley decreased their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. BMO Capital Markets began coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target on the stock. Finally, Piper Sandler reduced their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $309.86.

Primerica Price Performance

The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 20.61 and a beta of 1.12. The company’s fifty day simple moving average is $286.37 and its two-hundred day simple moving average is $281.55.

Primerica (NYSE:PRI) last issued its quarterly earnings data 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%. On average, analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $1.04 dividend. The ex-dividend date was Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.47%. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is currently 30.25%.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on 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 in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the 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 owns 13,301 shares of the company’s stock, 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 valued at $1,476,575 in the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primerica

Several large investors have recently modified their holdings of PRI. Colonial Trust Co SC purchased a new position in Primerica in the fourth quarter valued at approximately $25,000. True Wealth Design LLC purchased a new position in shares of Primerica during the 4th quarter valued at $27,000. Golden State Wealth Management LLC bought a new position in shares of Primerica during the 4th quarter worth $33,000. EverSource Wealth Advisors LLC grew its stake in shares of Primerica by 129.1% during 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 period. Finally, Larson Financial Group LLC boosted its position in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the period. Hedge funds and other 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.