Primerica (NYSE:PRI) Trading Up 0.8% – What’s Next?

Shares of Primerica, Inc. (NYSE:PRI) rose 0.8% on Tuesday . The company traded as high as $296.00 and last traded at $294.45. Approximately 11,594 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 131,896 shares. The stock had previously closed at $292.14.

Analyst Ratings Changes

Several research firms recently issued reports on PRI. Truist Financial upped their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods cut their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Friday, January 10th. TD Cowen raised their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, BMO Capital Markets initiated coverage on Primerica in a report on Thursday. They set a “market perform” rating and a $311.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Primerica has a consensus rating of “Hold” and an average target price of $304.14.

Primerica Price Performance

The company has a market cap of $9.73 billion, a P/E ratio of 22.28 and a beta of 1.11. The business’s 50 day moving average price is $285.42 and its 200-day moving average price is $270.64.

Primerica (NYSE:PRI) last issued its quarterly earnings data 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 firm had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the previous year, the company posted $4.28 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts forecast that Primerica, Inc. will post 19.75 EPS for the current year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s dividend payout ratio is presently 27.50%.

Primerica announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new stake in Primerica in the second quarter worth $1,349,000. Vanguard Personalized Indexing Management LLC raised its holdings in Primerica by 11.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,009 shares of the financial services provider’s stock worth $712,000 after buying an additional 308 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in Primerica by 207.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 548 shares of the financial services provider’s stock valued at $130,000 after buying an additional 370 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Primerica by 28.6% in the second quarter. Pacer Advisors Inc. now owns 8,634 shares of the financial services provider’s stock valued at $2,043,000 after buying an additional 1,920 shares during the period. Finally, Sei Investments Co. increased its position in shares of Primerica by 19.1% during the second quarter. Sei Investments Co. now owns 51,300 shares of the financial services provider’s stock worth $12,137,000 after acquiring an additional 8,227 shares in the last quarter. 90.88% of the stock is 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.