Primerica (NYSE:PRI) Trading 3.2% Higher – Here’s Why

Primerica, Inc. (NYSE:PRI)’s stock price traded up 3.2% during mid-day trading on Monday . The company traded as high as $292.47 and last traded at $293.65. 17,826 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 156,141 shares. The stock had previously closed at $284.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PRI shares. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Piper Sandler reduced their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Morgan Stanley lowered their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. BMO Capital Markets began coverage on Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target on the stock. Finally, Keefe, Bruyette & Woods lifted their price objective on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $309.86.

Primerica Stock Down 0.5 %

The firm has a market cap of $9.66 billion, a P/E ratio of 21.13 and a beta of 1.12. The business has a fifty day moving average of $286.37 and a 200 day moving average of $281.23.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, sell-side analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a dividend of $1.04 per share. This is an increase from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.43%. The ex-dividend date was Friday, February 21st. Primerica’s dividend payout ratio (DPR) is 30.25%.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the business’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 sale, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the sale, the insider now directly owns 200 shares in the company, valued at $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 over the last quarter. 0.85% of the stock is currently owned by company insiders.

Institutional Trading of Primerica

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Colonial Trust Co SC acquired a new position in Primerica during the fourth quarter worth $25,000. True Wealth Design LLC bought a new position in Primerica during the fourth quarter worth $27,000. Golden State Wealth Management LLC acquired a new position in shares of Primerica in the fourth quarter valued at $33,000. EverSource Wealth Advisors LLC raised its position in shares of Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 71 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after buying an additional 54 shares during the last quarter. 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.