Primerica (NYSE:PRI) Trading Up 0.4% – Time to Buy?

Primerica, Inc. (NYSE:PRI) shares were up 0.4% during trading on Monday . The company traded as high as $278.87 and last traded at $277.57. Approximately 17,938 shares were traded during trading, a decline of 84% from the average daily volume of 110,745 shares. The stock had previously closed at $276.40.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PRI. TD Cowen boosted their target price on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Monday. Piper Sandler reduced their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $296.33.

Primerica Stock Up 0.9 %

The firm’s 50 day simple moving average is $286.20 and its 200-day simple moving average is $267.15. The company has a market capitalization of $9.29 billion, a PE ratio of 21.26 and a beta of 1.11.

Primerica (NYSE:PRI) last posted its 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. The business had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.28 earnings per share. As a group, sell-side analysts anticipate that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, November 21st. Primerica’s dividend payout ratio is currently 27.50%.

Primerica declared that its board has approved a share repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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 Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Primerica

Hedge funds have recently added to or reduced their stakes in the stock. Everence Capital Management Inc. acquired a new position in Primerica during the 4th quarter worth $228,000. GAMMA Investing LLC lifted its holdings in Primerica by 14.9% in the fourth quarter. GAMMA Investing LLC now owns 1,128 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 146 shares during the period. Forthright Family Wealth Advisory LLC bought a new position in Primerica in the 3rd quarter valued at about $202,000. Wilmington Savings Fund Society FSB acquired a new position in Primerica during the 3rd quarter valued at about $336,000. Finally, Sanctuary Advisors LLC raised its position in shares of Primerica by 21.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 5,632 shares of the financial services provider’s stock worth $1,493,000 after buying an additional 990 shares in the last quarter. 90.88% of the stock is currently owned by 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.