Primerica (NYSE:PRI) Stock Price Down 1% – Time to Sell?

Primerica, Inc. (NYSE:PRI) fell 1% on Monday . The stock traded as low as $280.30 and last traded at $281.29. 134,291 shares changed hands during trading, an increase of 7% from the average session volume of 125,765 shares. The stock had previously closed at $284.14.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PRI. Truist Financial upped 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. BMO Capital Markets began coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price on the stock. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Tuesday. Finally, Piper Sandler lowered their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Six 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 MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $311.14.

Primerica Trading Down 0.6 %

The stock’s 50-day simple moving average is $282.05 and its 200-day simple moving average is $276.28. The firm has a market capitalization of $9.36 billion, a P/E ratio of 20.41 and a beta of 1.11.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect that Primerica, Inc. will post 20.53 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be given a dividend of $1.04 per share. This is an increase from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Friday, February 21st. Primerica’s dividend payout ratio is currently 26.18%.

Primerica declared that its board has authorized a share buyback plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Burgundy Asset Management Ltd. grew its position in shares of Primerica by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider’s stock valued at $349,717,000 after acquiring an additional 21,208 shares during the period. Vise Technologies Inc. bought a new position in Primerica in the 4th quarter worth approximately $368,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Primerica by 9.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,679 shares of the financial services provider’s stock worth $38,726,000 after buying an additional 11,737 shares during the period. Voloridge Investment Management LLC boosted its holdings in Primerica by 527.1% in the 4th quarter. Voloridge Investment Management LLC now owns 42,816 shares of the financial services provider’s stock worth $11,621,000 after buying an additional 35,988 shares during the period. Finally, iSAM Funds UK Ltd boosted its holdings in Primerica by 76.3% in the 4th quarter. iSAM Funds UK Ltd now owns 4,950 shares of the financial services provider’s stock worth $1,344,000 after buying an additional 2,142 shares during the period. 90.88% of the stock is owned by institutional investors.

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.