Primerica (NYSE:PRI) Shares Down 1.1% – Should You Sell?

Primerica, Inc. (NYSE:PRI) was down 1.1% during trading on Monday . The stock traded as low as $268.12 and last traded at $268.61. Approximately 15,150 shares were traded during trading, a decline of 90% from the average daily volume of 156,245 shares. The stock had previously closed at $271.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. TD Cowen raised their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Truist Financial raised their price target on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Piper Sandler lowered their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Finally, StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Primerica presently has a consensus rating of “Hold” and a consensus price target of $296.33.

Primerica Trading Up 0.6 %

The company has a fifty day moving average price of $287.49 and a two-hundred day moving average price of $263.75. The firm has a market capitalization of $9.07 billion, a PE ratio of 20.76 and a beta of 1.09.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.87. The business had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.28 earnings per share. As a group, equities research analysts predict that Primerica, Inc. will post 19.32 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a $0.90 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.32%. Primerica’s dividend payout ratio is presently 27.50%.

Primerica announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Primerica

Large investors have recently bought and sold shares of the company. Millennium Management LLC raised its holdings in Primerica by 30,726.7% during the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after purchasing an additional 678,752 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Primerica by 66.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock valued at $23,601,000 after buying an additional 39,761 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Primerica by 2,986.9% in the second quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider’s stock valued at $7,595,000 after buying an additional 31,064 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Primerica during the second quarter worth $71,000. Finally, Geode Capital Management LLC raised its position in Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after acquiring an additional 25,951 shares in the last quarter. 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.