Primerica (NYSE:PRI) Stock Price Down 1.9% – Should You Sell?

Primerica, Inc. (NYSE:PRI)’s stock price dropped 1.9% during trading on Friday . The stock traded as low as $283.12 and last traded at $284.46. Approximately 17,247 shares were traded during trading, a decline of 89% from the average daily volume of 157,183 shares. The stock had previously closed at $289.92.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Morgan Stanley decreased their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Finally, BMO Capital Markets began 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. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $309.86.

Primerica Stock Performance

The business’s 50 day moving average price is $286.37 and its 200-day moving average price is $281.75. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 20.61 and a beta of 1.12.

Primerica (NYSE:PRI) last announced 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 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 fiscal year.

Primerica Increases Dividend

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Primerica

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in shares of Primerica during the fourth quarter worth about $34,191,000. AQR Capital Management LLC grew its position in Primerica by 254.5% in the 4th quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider’s stock worth $31,558,000 after purchasing an additional 83,477 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Primerica by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock valued at $211,691,000 after purchasing an additional 82,921 shares during the period. FIL Ltd raised its holdings in shares of Primerica by 85.5% during the fourth quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock valued at $35,655,000 after buying an additional 60,565 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Primerica by 2,508.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider’s stock worth $15,606,000 after buying an additional 55,295 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.