Primerica (NYSE:PRI) Shares Down 0.1% – Here’s What Happened

Primerica, Inc. (NYSE:PRI) was down 0.1% during trading on Thursday . The stock traded as low as $294.67 and last traded at $295.56. Approximately 11,291 shares changed hands during trading, a decline of 91% from the average daily volume of 131,936 shares. The stock had previously closed at $295.85.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PRI. TD Cowen upped their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. BMO Capital Markets initiated coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target on the stock. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods lowered their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Finally, Truist Financial raised their target price on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $304.14.

Primerica Trading Up 0.2 %

The stock has a 50-day moving average price of $283.49 and a 200 day moving average price of $274.17. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 22.68 and a beta of 1.11.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. The company had revenue of $774.13 million for 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%. Primerica’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $4.28 earnings per share. Equities research analysts anticipate that Primerica, Inc. will post 19.79 earnings per share for the current year.

Primerica announced that its board has initiated a share 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 buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

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

Hedge Funds Weigh In On Primerica

Several hedge funds and other institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Primerica in the 3rd quarter valued at $31,000. Prospera Private Wealth LLC purchased a new position in shares of Primerica in the third quarter worth about $31,000. Golden State Wealth Management LLC purchased a new position in shares of Primerica in the fourth quarter worth about $33,000. UMB Bank n.a. boosted its position in 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 acquiring an additional 67 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares in the last quarter. 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.