Primerica (NYSE:PRI) Shares Up 0.9% – What’s Next?

Primerica, Inc. (NYSE:PRI) shot up 0.9% during trading on Thursday . The company traded as high as $278.66 and last traded at $278.33. 149,564 shares changed hands during trading, a decline of 4% from the average session volume of 155,813 shares. The stock had previously closed at $275.97.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. 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 report on Wednesday, December 18th. Truist Financial boosted their price objective on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods lowered their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Friday. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, 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. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $303.00.

Primerica Stock Performance

The firm has a market capitalization of $9.05 billion, a P/E ratio of 20.72 and a beta of 1.11. The stock’s 50 day simple moving average is $286.14 and its 200 day simple moving average is $267.55.

Primerica (NYSE:PRI) last released 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 for the quarter, compared to the consensus estimate of $745.25 million. During the same period last year, the business posted $4.28 EPS. Primerica’s quarterly revenue was up 11.0% on a year-over-year basis. On average, analysts anticipate that Primerica, Inc. will post 19.32 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s payout ratio is 27.50%.

Primerica announced that its board has approved a stock repurchase plan on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares of the company’s stock, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primerica

Large investors have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in Primerica during the 3rd quarter valued at approximately $31,000. Prospera Private Wealth LLC acquired a new position in shares of Primerica in the 3rd quarter valued at $31,000. UMB Bank n.a. raised its stake in Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares during the last quarter. Larson Financial Group LLC lifted its position in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the period. Finally, Quarry LP increased its holdings in shares of Primerica by 629.2% in the third quarter. Quarry LP now owns 350 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 302 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.