Primerica (NYSE:PRI) Stock Price Up 1.6% – What’s Next?

Primerica, Inc. (NYSE:PRI) traded up 1.6% on Tuesday . The company traded as high as $294.99 and last traded at $294.84. 17,637 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 132,026 shares. The stock had previously closed at $290.27.

Analysts Set New Price Targets

A number of analysts recently commented on PRI shares. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Truist Financial boosted their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. TD Cowen raised their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler cut their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Finally, BMO Capital Markets initiated coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Primerica has a consensus rating of “Hold” and a consensus price target of $304.14.

Primerica Trading Up 0.5 %

The company has a market capitalization of $9.74 billion, a PE ratio of 22.30 and a beta of 1.11. The company’s 50 day moving average price is $284.35 and its 200-day moving average price is $273.28.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping the consensus estimate of $4.81 by $0.87. The company 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 firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.28 earnings per share. As a group, analysts predict that Primerica, Inc. will post 19.79 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.23%. Primerica’s dividend payout ratio (DPR) is 27.50%.

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

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Institutional Trading of Primerica

Large investors have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in shares of Primerica in the third quarter worth about $31,000. Prospera Private Wealth LLC acquired a new position in shares of Primerica in the 3rd quarter valued at approximately $31,000. Golden State Wealth Management LLC purchased a new position in shares of Primerica during the 4th quarter valued at approximately $33,000. UMB Bank n.a. grew its position 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 buying an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Primerica by 56.8% in the 3rd 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 last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

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.