Primerica (NYSE:PRI) Stock Price Up 0.2% – What’s Next?

Shares of Primerica, Inc. (NYSE:PRI) shot up 0.2% during mid-day trading on Tuesday . The company traded as high as $292.49 and last traded at $290.38. 15,499 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 127,079 shares. The stock had previously closed at $289.94.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. BMO Capital Markets assumed coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective on the stock. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods dropped their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Primerica currently has a consensus rating of “Hold” and an average price target of $304.14.

Primerica Stock Down 0.3 %

The company has a 50 day moving average of $284.72 and a 200 day moving average of $272.53. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 22.23 and a beta of 1.11.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. During the same period last year, the firm posted $4.28 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts expect that Primerica, Inc. will post 19.79 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a $0.90 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.24%. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Primerica declared that its board has approved a stock repurchase plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares of the company’s stock, valued at $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Primerica

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after buying an additional 25,951 shares in the last quarter. Barclays PLC boosted its stake in shares of Primerica by 108.1% in the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after purchasing an additional 10,635 shares in the last quarter. Oak Thistle LLC increased its position in shares of Primerica by 64.9% during the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after purchasing an additional 1,943 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Primerica in the third quarter valued at about $3,710,000. Finally, BNP Paribas Financial Markets increased its holdings in Primerica by 320.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider’s stock valued at $1,525,000 after purchasing an additional 4,383 shares in the last quarter. Institutional investors 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.