Primerica (NYSE:PRI) Shares Down 0.6% – What’s Next?

Primerica, Inc. (NYSE:PRI)’s share price was down 0.6% on Friday . The company traded as low as $290.03 and last traded at $289.87. Approximately 12,757 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 127,482 shares. The stock had previously closed at $291.76.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRI shares. TD Cowen raised 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 lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Wednesday. Piper Sandler lowered 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. Truist Financial lifted their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday. They issued a “market perform” rating and a $311.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Primerica presently has a consensus rating of “Hold” and a consensus price target of $304.14.

Primerica Trading Down 0.3 %

The firm’s 50 day simple moving average is $285.42 and its 200-day simple moving average is $270.64. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 22.21 and a beta of 1.11.

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

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were paid a $0.90 dividend. 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 1.24%. Primerica’s dividend payout ratio (DPR) is currently 27.50%.

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

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.85% of the stock is owned by company insiders.

Institutional Trading of Primerica

A number of institutional investors have recently bought and sold shares of the business. Sylvest Advisors LLC bought a new stake in Primerica in the 4th quarter valued at about $543,000. Ausbil Investment Management Ltd boosted its holdings in Primerica by 20.9% in the 4th quarter. Ausbil Investment Management Ltd now owns 3,030 shares of the financial services provider’s stock valued at $837,000 after purchasing an additional 523 shares during the period. Ibex Wealth Advisors bought a new stake in Primerica in the 4th quarter valued at about $305,000. R Squared Ltd bought a new stake in Primerica in the 4th quarter valued at about $445,000. Finally, KBC Group NV boosted its holdings in Primerica by 51.9% in the 4th quarter. KBC Group NV now owns 1,329 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 454 shares during the period. Institutional investors own 90.88% of the company’s stock.

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.