Primerica (NYSE:PRI) Trading Down 1.4% – Should You Sell?

Primerica, Inc. (NYSE:PRI) shares traded down 1.4% during mid-day trading on Monday . The stock traded as low as $266.92 and last traded at $266.92. 7,693 shares were traded during trading, a decline of 95% from the average session volume of 155,196 shares. The stock had previously closed at $270.59.

Analyst Ratings Changes

PRI has been the subject of a number of research analyst reports. Piper Sandler dropped their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Truist Financial lifted their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Finally, 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 research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Primerica has a consensus rating of “Hold” and an average target price of $296.33.

Primerica Stock Up 0.6 %

The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 20.73 and a beta of 1.09. The stock has a fifty day moving average of $286.53 and a 200-day moving average of $265.77.

Primerica (NYSE:PRI) last issued 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 business had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.28 EPS. On average, equities analysts forecast that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, November 21st. Primerica’s payout ratio is 27.50%.

Primerica announced that its board has authorized a stock buyback plan on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign 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 firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Several hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new stake in Primerica during the 3rd quarter valued at approximately $31,000. Prospera Private Wealth LLC acquired a new position in shares of Primerica in the third quarter valued at approximately $31,000. UMB Bank n.a. raised its stake in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in Primerica in the 2nd quarter valued at $71,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

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.