Primerica (NYSE:PRI) Trading Up 1.5% – What’s Next?

Primerica, Inc. (NYSE:PRI)’s share price traded up 1.5% on Wednesday . The stock traded as high as $295.88 and last traded at $295.53. 15,824 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 131,767 shares. The stock had previously closed at $291.19.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Truist Financial upped their price target on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets assumed coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target on the stock. Piper Sandler cut their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, TD Cowen upped their price target on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $304.14.

Primerica Trading Up 0.2 %

The firm has a market capitalization of $9.91 billion, a PE ratio of 22.68 and a beta of 1.11. The business’s 50 day simple moving average is $283.49 and its two-hundred day simple moving average is $274.17.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. During the same quarter in the previous year, the company posted $4.28 earnings per share. Primerica’s revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Primerica, Inc. will post 19.79 earnings per share for the current year.

Primerica declared that its board has authorized a stock buyback plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction 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 transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. 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 owned by company insiders.

Hedge Funds Weigh In On Primerica

Several large investors have recently made changes to their positions in PRI. V Square Quantitative Management LLC purchased a new position in shares of Primerica in the third quarter valued at about $31,000. Prospera Private Wealth LLC purchased a new stake in shares of Primerica in the third quarter worth about $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Primerica in the fourth quarter worth about $33,000. UMB Bank n.a. lifted its position in shares of Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Primerica by 56.8% in the third 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 in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

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.