Primerica (NYSE:PRI) Shares Down 0.2% After Insider Selling

Primerica, Inc. (NYSE:PRI)’s stock price traded down 0.2% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $280.32 and last traded at $285.29. 16,243 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 139,680 shares. The stock had previously closed at $285.93.

Specifically, insider Nicholas Adam Jendusa sold 234 shares of Primerica 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 of the company’s stock, valued at $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

A number of analysts have commented on PRI shares. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Piper Sandler cut their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Morgan Stanley decreased their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Finally, Truist Financial lifted their target price on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Primerica has an average rating of “Hold” and an average target price of $309.86.

Primerica Stock Performance

The stock has a 50-day moving average of $283.52 and a 200 day moving average of $278.73. The firm has a market capitalization of $9.52 billion, a P/E ratio of 20.75 and a beta of 1.11.

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

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a $1.04 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.46%. This is a positive change from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is currently 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 outstanding shares. This buyback authorization permits the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new position in shares of Primerica during the fourth quarter valued at $2,921,000. Burgundy Asset Management Ltd. lifted its position in Primerica by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider’s stock valued at $349,717,000 after purchasing an additional 21,208 shares during the period. Vise Technologies Inc. acquired a new position in Primerica during the 4th quarter valued at about $368,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Primerica by 9.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,679 shares of the financial services provider’s stock valued at $38,726,000 after purchasing an additional 11,737 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its stake in shares of Primerica by 527.1% during the fourth quarter. Voloridge Investment Management LLC now owns 42,816 shares of the financial services provider’s stock worth $11,621,000 after buying an additional 35,988 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

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.