Primerica (NYSE:PRI) Shares Up 0.5% – Time to Buy?

Primerica, Inc. (NYSE:PRI)’s share price traded up 0.5% during mid-day trading on Tuesday . The company traded as high as $277.34 and last traded at $276.59. 17,890 shares traded hands during trading, a decline of 86% from the average session volume of 126,684 shares. The stock had previously closed at $275.24.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PRI. Piper Sandler decreased their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Monday. TD Cowen boosted their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Truist Financial upped their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Primerica has an average rating of “Hold” and an average target price of $296.33.

Primerica Trading Up 0.9 %

The company has a market cap of $9.29 billion, a price-to-earnings ratio of 21.26 and a beta of 1.11. The business has a fifty day moving average price of $286.17 and a two-hundred day moving average price of $267.23.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. The company had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.28 EPS. On average, analysts anticipate that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.29%. Primerica’s payout ratio is 27.50%.

Primerica declared that its Board of Directors has authorized a stock repurchase program on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Trading of Primerica

Several large investors have recently made changes to their positions in PRI. Burgundy Asset Management Ltd. boosted its position in Primerica by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock worth $292,688,000 after purchasing an additional 17,095 shares during the period. Geode Capital Management LLC raised its position in shares of Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after purchasing an additional 25,951 shares during the period. Millennium Management LLC boosted its holdings in shares of Primerica by 30,726.7% during the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after buying an additional 678,752 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Primerica by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock worth $150,880,000 after buying an additional 21,836 shares during the period. Finally, Raymond James & Associates boosted its holdings in shares of Primerica by 4.6% during the 3rd quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock worth $32,176,000 after buying an additional 5,323 shares during the period. 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.