Primerica (NYSE:PRI) Stock Price Up 0.9% – Should You Buy?

Shares of Primerica, Inc. (NYSE:PRI) traded up 0.9% during mid-day trading on Friday . The stock traded as high as $270.82 and last traded at $269.30. 25,578 shares changed hands during trading, a decline of 83% from the average session volume of 153,424 shares. The stock had previously closed at $266.84.

Analysts Set New Price Targets

Several equities analysts recently commented on PRI shares. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Piper Sandler lowered their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday. Truist Financial raised their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $296.33.

Primerica Price Performance

The company has a fifty day moving average price of $287.74 and a 200 day moving average price of $262.59. The company has a market cap of $8.97 billion, a PE ratio of 20.54 and a beta of 1.09.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm had revenue of $774.13 million for the quarter, compared to analyst estimates of $745.25 million. During the same quarter in the prior year, the firm earned $4.28 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts predict that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Thursday, November 21st. Primerica’s payout ratio is currently 27.50%.

Primerica declared that its board has approved a stock buyback plan on Thursday, November 14th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were 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 legal filing with the SEC, which is accessible through this hyperlink. 0.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in Primerica in the third quarter worth about $31,000. Prospera Private Wealth LLC purchased a new stake in shares of Primerica in the 3rd quarter worth about $31,000. UMB Bank n.a. increased its stake in shares of 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 in 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 valued at $39,000 after acquiring an additional 54 shares during the period. Finally, Blue Trust Inc. grew its holdings in Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 60 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.