Primerica (NYSE:PRI) Trading Down 4.4% – Time to Sell?

Primerica, Inc. (NYSE:PRI)’s stock price traded down 4.4% during trading on Wednesday . The stock traded as low as $270.67 and last traded at $277.42. 47,034 shares were traded during trading, a decline of 65% from the average session volume of 134,845 shares. The stock had previously closed at $290.14.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their target price 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 upped their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. BMO Capital Markets assumed coverage on Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price for the company. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Piper Sandler cut 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. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Primerica presently has a consensus rating of “Hold” and an average price target of $304.14.

Primerica Price Performance

The stock’s fifty day simple moving average is $283.06 and its 200-day simple moving average is $275.43. The company has a market capitalization of $9.39 billion, a P/E ratio of 21.46 and a beta of 1.11.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 14.95% and a return on equity of 30.93%. On average, research analysts predict that Primerica, Inc. will post 19.79 earnings per share for the current year.

Primerica announced that its board has authorized a stock buyback 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 reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Primerica

Hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in shares of Primerica in the third quarter valued at about $31,000. Prospera Private Wealth LLC acquired a new position in Primerica in the third quarter worth about $31,000. Golden State Wealth Management LLC acquired a new position in Primerica in the fourth quarter worth about $33,000. EverSource Wealth Advisors LLC raised its position in Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 71 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares in the last quarter. 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.