Primerica (NYSE:PRI) Shares Down 1.2% – Should You Sell?

Shares of Primerica, Inc. (NYSE:PRI) traded down 1.2% during mid-day trading on Friday . The stock traded as low as $284.46 and last traded at $285.41. 43,268 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 154,054 shares. The stock had previously closed at $288.89.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Piper Sandler lowered their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. BMO Capital Markets initiated coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective on the stock. Finally, TD Cowen boosted their price objective 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. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $309.86.

Primerica Trading Down 1.4 %

The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 20.73 and a beta of 1.12. The firm’s 50 day moving average price is $285.85 and its two-hundred day moving average price is $280.60.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, equities research analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. This is a positive change from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is 30.25%.

Insider Activity at Primerica

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the sale, the president now owns 13,301 shares of the company’s stock, valued at $3,762,852.90. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,234 shares of company stock worth $1,476,575. Insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

A number of institutional investors have recently bought and sold shares of PRI. GSA Capital Partners LLP bought a new stake in Primerica in the 3rd quarter valued at about $228,000. CIBC Asset Management Inc boosted its holdings in Primerica by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 36 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Primerica during the 3rd quarter worth approximately $31,000. Advisors Asset Management Inc. lifted its holdings in shares of Primerica by 187.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 643 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 419 shares during the period. Finally, Great Valley Advisor Group Inc. bought a new stake in shares of Primerica during the 3rd quarter worth approximately $398,000. 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.