Primerica (NYSE:PRI) Trading Down 0.4% – What’s Next?

Primerica, Inc. (NYSE:PRI)’s stock price was down 0.4% during trading on Friday . The stock traded as low as $270.54 and last traded at $271.51. Approximately 6,762 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 155,485 shares. The stock had previously closed at $272.51.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial boosted their price target on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Piper Sandler lowered their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Finally, TD Cowen lifted 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. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $296.33.

Primerica Stock Down 0.7 %

The stock has a market capitalization of $9.03 billion, a P/E ratio of 20.67 and a beta of 1.09. The company has a fifty day moving average price of $286.82 and a 200-day moving average price of $264.80.

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 analysts’ consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. During the same period last year, the company posted $4.28 EPS. The business’s revenue was up 11.0% on a year-over-year basis. As a group, research analysts expect that Primerica, Inc. will post 19.32 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company 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. This represents a $3.60 annualized dividend and a yield of 1.33%. The ex-dividend date was Thursday, November 21st. Primerica’s payout ratio is currently 27.50%.

Primerica declared that its Board of Directors has approved a stock buyback plan on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows 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 leadership believes its stock is undervalued.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Primerica

Institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc increased its position in Primerica by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after buying an additional 36 shares in the last quarter. Creative Planning grew its stake in shares of Primerica by 0.7% during the third quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock worth $1,613,000 after acquiring an additional 40 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Primerica by 0.7% during the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after acquiring an additional 43 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 54 shares during the last quarter. Finally, SkyView Investment Advisors LLC boosted its stake in Primerica by 1.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider’s stock worth $1,484,000 after purchasing an additional 62 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

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.