Primerica (NYSE:PRI) Shares Down 0.1% – What’s Next?

Primerica, Inc. (NYSE:PRI)’s share price traded down 0.1% during mid-day trading on Friday . The company traded as low as $277.85 and last traded at $278.60. 10,291 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 137,753 shares. The stock had previously closed at $278.88.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PRI. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. BMO Capital Markets began coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target for the company. TD Cowen increased 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. Piper Sandler decreased their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, Morgan Stanley lifted their target price on shares of Primerica from $308.00 to $313.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Primerica currently has an average rating of “Hold” and an average target price of $311.14.

Primerica Trading Down 2.3 %

The firm has a market cap of $9.12 billion, a P/E ratio of 19.88 and a beta of 1.11. The business’s fifty day simple moving average is $281.79 and its 200-day simple moving average is $276.82.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping 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%. Analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be issued a $1.04 dividend. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.52%. Primerica’s dividend payout ratio is 26.18%.

Primerica announced that its Board of Directors has approved a share buyback plan on Thursday, November 14th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s 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 owns 33,322 shares in the company, valued at $9,388,140.28. This represents a 8.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Primerica

Several hedge funds have recently added to or reduced their stakes in PRI. CIBC Asset Management Inc raised its position in shares of Primerica by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 36 shares during the last quarter. Mariner LLC increased its stake in Primerica by 1.4% during the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider’s stock valued at $709,000 after purchasing an additional 36 shares in the last quarter. Creative Planning raised its holdings in Primerica by 0.7% in the third quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock worth $1,613,000 after buying an additional 40 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Primerica by 0.7% in the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock worth $1,549,000 after buying an additional 43 shares in the last quarter. Finally, Dana Investment Advisors Inc. grew its holdings in shares of Primerica by 1.2% during the fourth quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock valued at $1,012,000 after buying an additional 45 shares during the last quarter. 90.88% of the stock is 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.