Primerica (NYSE:PRI) Stock Price Up 0.5% – Should You Buy?

Shares of Primerica, Inc. (NYSE:PRI) rose 0.5% on Tuesday . The stock traded as high as $277.20 and last traded at $276.68. Approximately 13,706 shares changed hands during trading, a decline of 90% from the average daily volume of 137,565 shares. The stock had previously closed at $275.22.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PRI. TD Cowen lifted their target price on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price target 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. Morgan Stanley increased their price target on Primerica from $308.00 to $313.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Truist Financial lifted their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler decreased 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. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $311.14.

Primerica Stock Up 0.5 %

The company has a market cap of $9.23 billion, a price-to-earnings ratio of 20.08 and a beta of 1.11. The firm has a 50-day simple moving average of $281.69 and a 200 day simple moving average of $277.49.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating 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, research analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is 30.25%.

Primerica declared that its board has initiated a stock repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Primerica

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in Primerica in the fourth quarter valued at about $34,191,000. AQR Capital Management LLC increased its position in Primerica by 254.5% during the fourth quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider’s stock worth $31,558,000 after buying an additional 83,477 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Primerica by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock worth $211,691,000 after acquiring an additional 82,921 shares during the last quarter. FIL Ltd lifted its position in shares of Primerica by 85.5% in the fourth quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock valued at $35,655,000 after acquiring an additional 60,565 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of 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 acquiring an additional 55,295 shares during the last quarter. 90.88% of the stock is 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.