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

Primerica, Inc. (NYSE:PRI) fell 0.1% during trading on Wednesday . The company traded as low as $292.17 and last traded at $293.38. 11,401 shares changed hands during trading, a decline of 91% from the average session volume of 130,730 shares. The stock had previously closed at $293.53.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRI. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Wednesday. Truist Financial upped their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. TD Cowen raised their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler lowered their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, BMO Capital Markets initiated coverage on Primerica in a research report on Thursday. They set a “market perform” rating and a $311.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $304.14.

Primerica Trading Down 0.7 %

The business has a fifty day moving average of $285.42 and a 200-day moving average of $270.64. The company has a market cap of $9.67 billion, a PE ratio of 22.14 and a beta of 1.11.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the prior year, the company earned $4.28 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, research analysts predict that Primerica, Inc. will post 19.79 EPS for the current year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Thursday, November 21st. Primerica’s payout ratio is 27.50%.

Primerica declared that its board has initiated a share buyback program on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 36,322 shares in the company, valued at $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

Hedge funds have recently modified their holdings of the business. Trust Point Inc. boosted its stake in Primerica by 25.1% during the fourth quarter. Trust Point Inc. now owns 1,923 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 386 shares in the last quarter. Sylvest Advisors LLC bought a new stake in shares of Primerica in the 4th quarter worth approximately $543,000. Ausbil Investment Management Ltd boosted its position in shares of Primerica by 20.9% in the 4th quarter. Ausbil Investment Management Ltd now owns 3,030 shares of the financial services provider’s stock worth $837,000 after purchasing an additional 523 shares in the last quarter. Ibex Wealth Advisors purchased a new stake in shares of Primerica in the 4th quarter worth approximately $305,000. Finally, R Squared Ltd bought a new position in Primerica during the 4th quarter valued at approximately $445,000. 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.