Primerica (NYSE:PRI) Trading Up 0.8% – Here’s Why

Primerica, Inc. (NYSE:PRI)’s stock price shot up 0.8% during mid-day trading on Thursday . The company traded as high as $293.58 and last traded at $292.56. 19,332 shares traded hands during trading, a decline of 88% from the average session volume of 155,093 shares. The stock had previously closed at $290.19.

Wall Street Analyst Weigh In

PRI has been the subject of several recent analyst reports. Morgan Stanley cut their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. BMO Capital Markets began coverage on shares of Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price for the company. Piper Sandler dropped 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. Finally, Keefe, Bruyette & Woods raised their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $309.86.

Primerica Trading Up 0.2 %

The firm’s fifty day simple moving average is $286.52 and its two-hundred day simple moving average is $281.29. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 21.14 and a beta of 1.12.

Primerica (NYSE:PRI) last issued 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 return on equity of 31.11% and a net margin of 15.14%. As a group, analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

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

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now directly owns 13,301 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock valued at $1,476,575 over the last 90 days. 0.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Primerica

Several institutional investors and hedge funds have recently modified their holdings of PRI. Colonial Trust Co SC acquired a new position in Primerica in the 4th quarter valued at about $25,000. True Wealth Design LLC acquired a new position in shares of Primerica in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC purchased a new stake in Primerica during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC lifted its holdings in Primerica by 129.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after buying an additional 71 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after buying an additional 54 shares during the period. Hedge funds and other 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.