Primerica (NYSE:PRI) Stock Price Up 0.8% – What’s Next?

Primerica, Inc. (NYSE:PRI) shares traded up 0.8% during mid-day trading on Tuesday . The company traded as high as $296.00 and last traded at $294.45. 11,594 shares were traded during mid-day trading, a decline of 91% from the average session volume of 131,896 shares. The stock had previously closed at $292.14.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Piper Sandler reduced their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. TD Cowen raised their price target on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $303.00.

Primerica Stock Up 0.6 %

The firm has a 50 day moving average price of $285.75 and a 200 day moving average price of $270.06. The stock has a market capitalization of $9.81 billion, a PE ratio of 22.46 and a beta of 1.11.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. During the same quarter in the previous year, the firm earned $4.28 earnings per share. Primerica’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Primerica, Inc. will post 19.75 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.90 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.23%. Primerica’s dividend payout ratio is currently 27.50%.

Primerica declared that its board has authorized a stock repurchase plan on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the 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 transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Primerica

Several hedge funds and other institutional investors have recently made changes to their positions in PRI. Geode Capital Management LLC grew its stake in Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after purchasing an additional 25,951 shares in the last quarter. Barclays PLC raised its holdings in shares of Primerica by 108.1% in the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock worth $5,428,000 after buying an additional 10,635 shares during the last quarter. Oak Thistle LLC lifted its position in Primerica by 64.9% during the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after acquiring an additional 1,943 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Primerica during the third quarter worth $3,710,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Primerica by 320.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider’s stock valued at $1,525,000 after buying an additional 4,383 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.