Primerica (NYSE:PRI) Shares Down 1.9% – Here’s Why

Primerica, Inc. (NYSE:PRI) was down 1.9% during mid-day trading on Friday . The stock traded as low as $283.12 and last traded at $284.46. Approximately 17,247 shares changed hands during trading, a decline of 89% from the average daily volume of 157,183 shares. The stock had previously closed at $289.92.

Analysts Set New Price Targets

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

Primerica Trading Down 2.3 %

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

Primerica (NYSE:PRI) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping 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%. Sell-side 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. Shareholders of record on Friday, February 21st were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.47%. 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 presently 30.25%.

Insider Buying and Selling at Primerica

In related news, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the company’s 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 directly owns 200 shares of the company’s stock, valued at $56,030. This trade represents a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 in the last 90 days. 0.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Colonial Trust Co SC purchased a new position in shares of Primerica in the 4th quarter worth about $25,000. True Wealth Design LLC acquired a new stake in Primerica during the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC purchased a new position in Primerica in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC lifted its position in Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after buying an additional 71 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake 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 buying an additional 54 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

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.