Primerica (NYSE:PRI) Trading Down 1.4% – What’s Next?

Primerica, Inc. (NYSE:PRI)’s stock price traded down 1.4% on Tuesday . The company traded as low as $276.55 and last traded at $276.55. 29,343 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 152,194 shares. The stock had previously closed at $280.53.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Truist Financial increased their target price on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Piper Sandler began coverage on shares of Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 target price for the company. Finally, Morgan Stanley increased their target price on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $293.50.

Primerica Trading Down 1.4 %

The firm has a market cap of $9.23 billion, a PE ratio of 21.13 and a beta of 1.09. The company’s 50-day moving average is $288.00 and its 200 day moving average is $262.17.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. The business 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 firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.28 EPS. On average, research analysts predict that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.30%. Primerica’s dividend payout ratio is presently 27.50%.

Primerica declared that its board has authorized a stock buyback plan on Thursday, November 14th that authorizes the company to repurchase $450.00 million in outstanding shares. This repurchase authorization authorizes 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 shares are undervalued.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the 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 transaction, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PRI. Blue Trust Inc. increased its stake in shares of Primerica by 45.5% during the 2nd 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 last quarter. Fifth Third Bancorp increased its stake in shares of Primerica by 450.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,614 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 1,321 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Primerica during the 2nd quarter worth $267,000. &PARTNERS bought a new stake in shares of Primerica during the 2nd quarter worth $399,000. Finally, Everhart Financial Group Inc. boosted its holdings in shares of Primerica by 16.2% during the 2nd quarter. Everhart Financial Group Inc. now owns 2,108 shares of the financial services provider’s stock worth $499,000 after buying an additional 294 shares during the period. Institutional investors and hedge funds 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.