Primerica (NYSE:PRI) Trading Down 0.1% – Should You Sell?

Primerica, Inc. (NYSE:PRI)’s share price traded down 0.1% during trading on Thursday . The stock traded as low as $294.67 and last traded at $295.56. 11,291 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 131,936 shares. The stock had previously closed at $295.85.

Analysts Set New Price Targets

Several research firms have recently weighed in on PRI. Piper Sandler decreased their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. BMO Capital Markets began coverage on shares of Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. Truist Financial upped their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods reduced their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Finally, TD Cowen boosted their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Primerica currently has an average rating of “Hold” and an average target price of $304.14.

Primerica Stock Performance

The firm has a market capitalization of $9.91 billion, a PE ratio of 22.68 and a beta of 1.11. The stock has a fifty day moving average price of $283.49 and a 200-day moving average price of $274.17.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company had revenue of $774.13 million for the quarter, compared to analyst estimates of $745.25 million. During the same quarter in the previous year, the firm earned $4.28 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts expect that Primerica, Inc. will post 19.79 earnings per share for the current fiscal year.

Primerica declared that its board has approved 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 reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primerica

A number of large investors have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in Primerica in the 3rd quarter worth approximately $31,000. Prospera Private Wealth LLC purchased a new position in shares of Primerica in the third quarter worth $31,000. Golden State Wealth Management LLC acquired a new stake in shares of Primerica during the fourth quarter worth $33,000. UMB Bank n.a. grew its holdings in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

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.