Primerica (NYSE:PRI) Shares Down 0.1% – What’s Next?

Shares of Primerica, Inc. (NYSE:PRI) dropped 0.1% during trading on Friday . The company traded as low as $282.81 and last traded at $284.37. Approximately 8,282 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 152,038 shares. The stock had previously closed at $284.54.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PRI shares. Truist Financial increased their price target on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Morgan Stanley increased their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Piper Sandler started coverage on Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 price target on the stock. TD Cowen upped their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $293.50.

Primerica Stock Performance

The stock has a 50 day moving average of $287.60 and a two-hundred day moving average of $260.86. The firm has a market capitalization of $9.38 billion, a P/E ratio of 21.72 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 (EPS) for the quarter, topping 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 net margin of 14.95% and a return on equity of 30.93%. Primerica’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.28 EPS. Sell-side analysts predict that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is currently 27.50%.

Primerica declared that its board has approved a share 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 repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 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 SEC, which is available through the SEC website. 0.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in shares of Primerica in the third quarter valued at approximately $31,000. Prospera Private Wealth LLC bought a new position in Primerica during the third quarter worth $31,000. ORG Partners LLC acquired a new position in shares of Primerica in the second quarter valued at $30,000. UMB Bank n.a. raised its position in shares of Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 67 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after buying an additional 54 shares during the period. 90.88% of the stock is currently owned by 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.