Primerica (NYSE:PRI) Shares Up 0.6% – What’s Next?

Shares of Primerica, Inc. (NYSE:PRI) shot up 0.6% on Thursday . The stock traded as high as $291.26 and last traded at $291.25. 14,054 shares changed hands during trading, a decline of 91% from the average session volume of 153,744 shares. The stock had previously closed at $289.39.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PRI. TD Cowen boosted their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. BMO Capital Markets began coverage on Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective on the stock. Piper Sandler lowered their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Morgan Stanley reduced their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $309.86.

Primerica Stock Down 1.4 %

The stock’s 50-day simple moving average is $285.85 and its two-hundred day simple moving average is $280.46. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 20.73 and a beta of 1.12.

Primerica (NYSE:PRI) last announced its quarterly earnings data 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 15.14% and a return on equity of 31.11%. On average, sell-side analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. Primerica’s dividend payout ratio (DPR) is 30.25%.

Insider Activity at Primerica

In other Primerica news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $56,030. This trade represents a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock valued at $1,476,575 over the last quarter. 0.85% of the stock is owned by insiders.

Institutional Trading of Primerica

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Colonial Trust Co SC acquired a new position in Primerica in the 4th quarter worth $25,000. True Wealth Design LLC bought a new stake in Primerica during the fourth quarter valued at $27,000. Prospera Private Wealth LLC acquired a new stake in Primerica during the third quarter worth about $31,000. Golden State Wealth Management LLC bought a new stake in shares of Primerica in the 4th quarter worth approximately $33,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds 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.