Primerica (NYSE:PRI) Stock Price Up 0.6% – Here’s Why

Shares of Primerica, Inc. (NYSE:PRI) rose 0.6% during mid-day trading on Thursday . The company traded as high as $291.26 and last traded at $291.25. Approximately 14,054 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 153,744 shares. The stock had previously closed at $289.39.

Wall Street Analysts Forecast Growth

PRI has been the subject of a number of research reports. Morgan Stanley decreased their price target 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. TD Cowen increased their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler lowered their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods increased their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Six equities research 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 currently has a consensus rating of “Hold” and a consensus target price of $309.86.

Primerica Stock Down 0.4 %

The company’s 50-day simple moving average is $285.36 and its 200 day simple moving average is $280.25. The firm has a market capitalization of $9.59 billion, a PE ratio of 21.02 and a beta of 1.12.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a $1.04 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Insider Activity at Primerica

In other news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the transaction, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now directly owns 13,301 shares in the company, valued at $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Primerica

A number of institutional investors have recently made changes to their positions in PRI. Wealth Enhancement Advisory Services LLC grew its holdings in Primerica by 11.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,385 shares of the financial services provider’s stock worth $919,000 after acquiring an additional 354 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Primerica during the 4th quarter worth approximately $2,921,000. Burgundy Asset Management Ltd. lifted its position in shares of 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 worth $349,717,000 after buying an additional 21,208 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of Primerica during the 4th quarter worth approximately $368,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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. 90.88% of the stock is currently owned by institutional investors and hedge funds.

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.