Primerica (NYSE:PRI) Trading Up 0.8% – Here’s What Happened

Primerica, Inc. (NYSE:PRI)’s share price traded up 0.8% on Thursday . The stock traded as high as $293.58 and last traded at $292.56. 19,332 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 155,093 shares. The stock had previously closed at $290.19.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. BMO Capital Markets assumed coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective on the stock. Piper Sandler decreased 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. Keefe, Bruyette & Woods lifted their price objective 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. Finally, Morgan Stanley lowered their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $309.86.

Primerica Stock Down 2.3 %

The firm has a 50 day simple moving average of $286.37 and a two-hundred day simple moving average of $281.55. The stock has a market capitalization of $9.42 billion, a P/E ratio of 20.61 and a beta of 1.12.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, research analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a dividend of $1.04 per share. The ex-dividend date was Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 1.47%. Primerica’s payout ratio is 30.25%.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now owns 200 shares in the company, valued at $56,030. This represents a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock valued at $1,476,575 in the last quarter. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

A number of institutional investors have recently added to or reduced their stakes in PRI. Advisors Asset Management Inc. lifted its holdings in shares of Primerica by 187.1% during the third quarter. Advisors Asset Management Inc. now owns 643 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 419 shares during the period. Cerity Partners LLC bought a new position in Primerica during the 3rd quarter worth $983,000. Larson Financial Group LLC lifted its holdings 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 buying an additional 54 shares during the period. Bank of Montreal Can grew its position in shares of Primerica by 4.6% in the 3rd quarter. Bank of Montreal Can now owns 34,685 shares of the financial services provider’s stock valued at $9,128,000 after buying an additional 1,536 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Primerica in the third quarter valued at about $426,000. 90.88% of the stock is owned by institutional investors.

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.