Primerica (NYSE:PRI) Stock Price Down 1.2% – Time to Sell?

Primerica, Inc. (NYSE:PRI)’s stock price fell 1.2% during trading on Friday . The company traded as low as $284.46 and last traded at $285.41. 43,268 shares changed hands during 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 research firms have weighed in on PRI. Keefe, Bruyette & Woods raised their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley lowered their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Piper Sandler lowered their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, BMO Capital Markets assumed coverage on Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target on the stock. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Primerica currently has an average rating of “Hold” and a consensus price target of $309.86.

Primerica Price Performance

The business has a 50 day moving average of $285.57 and a 200 day moving average of $280.31. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 20.77 and a beta of 1.12.

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 return on equity of 31.11% and a net margin of 15.14%. As a group, equities analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

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

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the sale, the president now owns 13,301 shares in the company, valued at $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock valued at $1,476,575 over the last three months. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Primerica

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of Primerica in the fourth quarter valued at about $34,191,000. AQR Capital Management LLC raised its position in Primerica by 254.5% in the 4th quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider’s stock valued at $31,558,000 after buying an additional 83,477 shares during the last quarter. Geode Capital Management LLC lifted its stake in Primerica by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock valued at $211,691,000 after acquiring an additional 82,921 shares in the last quarter. FIL Ltd lifted its stake in Primerica by 85.5% in the 4th quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock valued at $35,655,000 after acquiring an additional 60,565 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in Primerica by 2,508.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider’s stock worth $15,606,000 after acquiring an additional 55,295 shares during the last quarter. 90.88% of the stock is 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.