Primerica (NYSE:PRI) Trading Down 0.3% – What’s Next?

Primerica, Inc. (NYSE:PRI) traded down 0.3% on Monday . The stock traded as low as $277.92 and last traded at $280.41. 26,778 shares traded hands during trading, a decline of 82% from the average session volume of 151,926 shares. The stock had previously closed at $281.16.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. Truist Financial boosted their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Morgan Stanley boosted their target price on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Piper Sandler started coverage on Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price for the company. Finally, TD Cowen boosted their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Primerica currently has an average rating of “Hold” and an average price target of $293.50.

Primerica Stock Down 0.2 %

The firm has a market cap of $9.36 billion, a PE ratio of 21.39 and a beta of 1.09. The company has a 50-day simple moving average of $287.74 and a two-hundred day simple moving average of $261.78.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 14.95% and a return on equity of 30.93%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $4.28 earnings per share. As a group, equities analysts predict that Primerica, Inc. will post 19.32 earnings per share for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.28%. The ex-dividend date was Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is 27.50%.

Primerica announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Institutional investors and hedge funds have recently modified their holdings of the company. Burgundy Asset Management Ltd. lifted its stake in Primerica by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock worth $292,688,000 after purchasing an additional 17,095 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 buying an additional 25,951 shares in the last quarter. Millennium Management LLC boosted its stake 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 valued at $161,102,000 after buying an additional 678,752 shares during the period. Dimensional Fund Advisors LP grew its position in Primerica by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock worth $150,880,000 after buying an additional 21,836 shares in the last quarter. Finally, Raymond James & Associates grew its position in Primerica by 4.6% during the third quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock worth $32,176,000 after buying an additional 5,323 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

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.