Primerica (NYSE:PRI) Stock Price Up 0.7% – Should You Buy?

Primerica, Inc. (NYSE:PRI)’s share price was up 0.7% during mid-day trading on Wednesday . The company traded as high as $290.63 and last traded at $289.80. Approximately 12,075 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 153,328 shares. The stock had previously closed at $287.77.

Analyst Ratings Changes

PRI has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Piper Sandler reduced their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. BMO Capital Markets initiated coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $309.86.

Primerica Stock Up 0.9 %

The firm has a market capitalization of $9.66 billion, a PE ratio of 21.13 and a beta of 1.12. The company has a 50-day moving average of $285.15 and a 200 day moving average of $280.19.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate 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 anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $1.04 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.43%. Primerica’s dividend payout ratio is presently 30.25%.

Insider Transactions at Primerica

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

Hedge Funds Weigh In On Primerica

Institutional investors and hedge funds have recently made changes to their positions in the business. Colonial Trust Co SC purchased a new stake in Primerica during the fourth quarter valued at about $25,000. True Wealth Design LLC bought a new stake in shares of Primerica in the 4th quarter valued at about $27,000. Prospera Private Wealth LLC purchased a new stake in Primerica during the 3rd quarter valued at about $31,000. Golden State Wealth Management LLC bought a new position in Primerica during the 4th quarter worth approximately $33,000. Finally, EverSource Wealth Advisors LLC increased its stake in Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 71 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.