Primerica (NYSE:PRI) Stock Price Down 0.1% – Should You Sell?

Shares of Primerica, Inc. (NYSE:PRI) dropped 0.1% on Wednesday . The stock traded as low as $292.17 and last traded at $293.38. Approximately 11,401 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 130,730 shares. The stock had previously closed at $293.53.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PRI shares. Truist Financial boosted 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. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods cut their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. TD Cowen lifted their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler decreased their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $303.00.

Primerica Trading Down 0.2 %

The firm’s 50-day moving average is $285.57 and its two-hundred day moving average is $270.49. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 22.39 and a beta of 1.11.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same period in the prior year, the company posted $4.28 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts predict that Primerica, Inc. will post 19.75 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.23%. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Primerica declared that its Board of Directors has initiated a share buyback plan on Thursday, November 14th that authorizes the company to repurchase $450.00 million in 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 generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the 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 sale, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Primerica

Several institutional investors and hedge funds have recently made changes to their positions in PRI. Geode Capital Management LLC raised 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 purchasing an additional 25,951 shares during the last quarter. Millennium Management LLC increased its holdings in Primerica by 30,726.7% in the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock valued at $161,102,000 after buying an additional 678,752 shares during the last quarter. Raymond James & Associates lifted its stake in Primerica by 4.6% during the third quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock worth $32,176,000 after purchasing an additional 5,323 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Primerica by 8.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 108,399 shares of the financial services provider’s stock worth $28,742,000 after buying an additional 8,641 shares during the last quarter. Finally, Prospector Partners LLC grew its holdings in shares of Primerica by 0.3% during the third quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider’s stock valued at $20,431,000 after purchasing an additional 210 shares during 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.