Primerica (NYSE:PRI) Stock Price Up 0.8% – Time to Buy?

Primerica, Inc. (NYSE:PRI) was up 0.8% during mid-day trading on Friday . The stock traded as high as $275.08 and last traded at $273.89. Approximately 17,770 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 86,321 shares. The stock had previously closed at $271.76.

Wall Street Analysts Forecast Growth

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

Primerica Stock Up 1.7 %

The business’s fifty day simple moving average is $286.26 and its two-hundred day simple moving average is $265.85. The company has a market cap of $9.22 billion, a price-to-earnings ratio of 21.11 and a beta of 1.09.

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 firm 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%. Primerica’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $4.28 earnings per share. Sell-side analysts predict that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.30%. Primerica’s dividend payout ratio is presently 27.50%.

Primerica announced that its board has authorized a stock buyback 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 purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 $10,942,728.94. This represents a 7.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Several large investors have recently modified their holdings of PRI. Geode Capital Management LLC increased its stake in Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after buying an additional 25,951 shares during the period. Barclays PLC increased its stake in shares of Primerica by 108.1% during the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock worth $5,428,000 after acquiring an additional 10,635 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Primerica during the third quarter worth about $3,710,000. BNP Paribas Financial Markets lifted its position in Primerica by 320.6% in the third quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider’s stock valued at $1,525,000 after purchasing an additional 4,383 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Primerica in the 3rd quarter valued at approximately $646,000. 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.