Primerica (NYSE:PRI) Shares Up 0.7% – Should You Buy?

Primerica, Inc. (NYSE:PRI) rose 0.7% during mid-day trading on Tuesday . The stock traded as high as $294.88 and last traded at $294.04. Approximately 14,006 shares were traded during trading, a decline of 91% from the average daily volume of 154,810 shares. The stock had previously closed at $292.04.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley decreased their target price 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. TD Cowen lifted their price objective on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price objective on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. BMO Capital Markets began coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price for the company. Finally, StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus price target of $309.86.

Primerica Stock Performance

The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 21.14 and a beta of 1.12. The business has a 50-day moving average of $286.20 and a 200-day moving average of $280.98.

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 net margin of 15.14% and a return on equity of 31.11%. Equities analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $1.04 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.43%. Primerica’s dividend payout ratio is presently 30.25%.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now owns 13,301 shares of the company’s stock, valued at $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $65,555.10. Following the completion of the sale, the insider now owns 200 shares of the company’s stock, valued at approximately $56,030. The trade was a 53.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Primerica

A number of large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its position in shares of 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 purchasing an additional 354 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in Primerica in the 4th quarter valued at about $2,921,000. Burgundy Asset Management Ltd. raised its holdings in shares of Primerica by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider’s stock worth $349,717,000 after acquiring an additional 21,208 shares during the last quarter. Vise Technologies Inc. acquired a new stake in Primerica during the fourth quarter worth approximately $368,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Primerica by 9.0% during the fourth 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 worth $38,726,000 after acquiring an additional 11,737 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other 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.