Primerica (NYSE:PRI) Stock Price Down 1.9% – Should You Sell?

Primerica, Inc. (NYSE:PRI)’s stock price dropped 1.9% during mid-day trading on Friday . The stock traded as low as $283.12 and last traded at $284.46. Approximately 17,247 shares were traded during trading, a decline of 89% from the average daily volume of 157,183 shares. The stock had previously closed at $289.92.

Wall Street Analyst Weigh In

PRI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their price target on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Morgan Stanley cut their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note 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 initiated coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. Finally, Piper Sandler decreased their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $309.86.

Primerica Price Performance

The firm has a market cap of $9.44 billion, a P/E ratio of 20.62 and a beta of 1.12. The company’s 50-day simple moving average is $286.54 and its 200 day simple moving average is $281.35.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. Analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.47%. This is a positive change 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 Activity

In related news, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now owns 13,301 shares in the company, valued at $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 through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now owns 200 shares of the company’s stock, valued at approximately $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Primerica during the 4th quarter worth $34,191,000. AQR Capital Management LLC increased its position in Primerica by 254.5% during the 4th quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider’s stock valued at $31,558,000 after purchasing an additional 83,477 shares during the period. Geode Capital Management LLC lifted its position in shares of Primerica by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock worth $211,691,000 after purchasing an additional 82,921 shares during the period. FIL Ltd boosted its stake in shares of Primerica by 85.5% during the fourth quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock valued at $35,655,000 after purchasing an additional 60,565 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in Primerica by 2,508.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider’s stock valued at $15,606,000 after buying an additional 55,295 shares during the period. Institutional investors own 90.88% of the company’s stock.

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.