Primerica (NYSE:PRI) Trading 0.7% Higher – Should You Buy?

Shares of Primerica, Inc. (NYSE:PRI) were up 0.7% during trading on Friday . The company traded as high as $298.73 and last traded at $298.28. Approximately 16,574 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 132,243 shares. The stock had previously closed at $296.31.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PRI shares. Piper Sandler cut their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Truist Financial raised their target price on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Finally, Keefe, Bruyette & Woods cut their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Primerica has an average rating of “Hold” and an average target price of $304.14.

Primerica Stock Up 0.2 %

The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 22.68 and a beta of 1.11. The company’s 50-day moving average is $283.49 and its 200-day moving average is $274.17.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. The business had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the business earned $4.28 earnings per share. Sell-side analysts anticipate that Primerica, Inc. will post 19.79 EPS for the current year.

Primerica announced that its board has initiated a stock buyback plan 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 reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on 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 sale, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Primerica

Several hedge funds have recently made changes to their positions in PRI. V Square Quantitative Management LLC purchased a new position in Primerica during the 3rd quarter worth $31,000. Prospera Private Wealth LLC acquired a new position in shares of Primerica in the third quarter valued at approximately $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Primerica during the fourth quarter worth approximately $33,000. UMB Bank n.a. lifted its holdings in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares during the period. Finally, Larson Financial Group LLC increased its stake in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after buying an additional 54 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

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.