Primerica (NYSE:PRI) Trading Down 0% – Time to Sell?

Shares of Primerica, Inc. (NYSE:PRI) were down 0% on Monday . The company traded as low as $288.93 and last traded at $290.20. 13,671 shares were traded during mid-day trading, a decline of 89% from the average session volume of 128,106 shares. The stock had previously closed at $290.21.

Analysts Set New Price Targets

PRI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. Truist Financial lifted their target price on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Piper Sandler reduced their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Finally, TD Cowen increased their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Primerica presently has an average rating of “Hold” and an average price target of $304.14.

Primerica Price Performance

The company has a fifty day moving average price of $284.77 and a two-hundred day moving average price of $272.40. The company has a market capitalization of $9.74 billion, a P/E ratio of 22.29 and a beta of 1.11.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. During the same quarter in the previous year, the firm posted $4.28 earnings per share. Primerica’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that Primerica, Inc. will post 19.79 earnings per share for the current year.

Primerica Dividend Announcement

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

Primerica announced that its Board of Directors has approved a stock repurchase 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 board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. This 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 is accessible through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Primerica

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after buying an additional 25,951 shares during the last quarter. Raymond James & Associates grew its stake in Primerica by 4.6% in the 3rd quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock valued at $32,176,000 after purchasing an additional 5,323 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Primerica by 8.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 108,399 shares of the financial services provider’s stock valued at $28,742,000 after purchasing an additional 8,641 shares during the last quarter. Prospector Partners LLC raised its stake in shares of Primerica by 0.3% during the 3rd quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider’s stock worth $20,431,000 after purchasing an additional 210 shares during the period. Finally, Stifel Financial Corp grew its position in Primerica by 0.5% during the third quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider’s stock valued at $16,965,000 after buying an additional 333 shares during the period. Institutional investors own 90.88% of the company’s stock.

About Primerica

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.