Primerica (NYSE:PRI) Stock Price Up 0.6% – Still a Buy?

Primerica, Inc. (NYSE:PRI) shares traded up 0.6% during trading on Wednesday . The stock traded as high as $271.72 and last traded at $271.72. 67,486 shares were traded during mid-day trading, a decline of 57% from the average session volume of 156,347 shares. The stock had previously closed at $270.21.

Analyst Ratings Changes

PRI has been the topic of a number of recent analyst reports. Truist Financial upped their price objective on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. TD Cowen increased their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Finally, Piper Sandler dropped their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $296.33.

Primerica Price Performance

The company has a market cap of $9.07 billion, a price-to-earnings ratio of 20.76 and a beta of 1.09. The business’s 50-day simple moving average is $287.49 and its 200-day simple moving average is $263.75.

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

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Thursday, November 21st. Primerica’s payout ratio is currently 27.50%.

Primerica declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares of the company’s stock, valued at $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is owned by insiders.

Institutional Trading of Primerica

Several hedge funds and other institutional investors have recently bought and sold shares of PRI. V Square Quantitative Management LLC acquired a new stake in shares of Primerica during the third quarter worth $31,000. Prospera Private Wealth LLC acquired a new stake in Primerica in the 3rd quarter worth about $31,000. UMB Bank n.a. grew its holdings in Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares during the period. Larson Financial Group LLC increased its stake in shares of 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 last quarter. Finally, Quarry LP lifted its holdings in shares of Primerica by 629.2% during the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 302 shares during the period. 90.88% of the stock is owned by hedge funds and other 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.