Primerica (NYSE:PRI) Shares Break Above 200 Day Moving Average – Here’s Why

Primerica, Inc. (NYSE:PRI) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $278.35 and traded as high as $280.17. Primerica shares last traded at $279.4640, with a volume of 201,953 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PRI. Jefferies Financial Group upped their price target on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Morgan Stanley lifted their price objective on Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a research report on Monday, August 24th. Truist Financial downgraded Primerica from a “buy” rating to a “hold” rating and cut their price objective for the company from $370.00 to $320.00 in a research note on Thursday, August 27th. Keefe, Bruyette & Woods reduced their target price on shares of Primerica from $335.00 to $330.00 and set a “market perform” rating for the company in a report on Friday, October 9th. Finally, TD Cowen raised their target price on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Primerica has an average rating of “Hold” and a consensus target price of $318.80.

Primerica Stock Performance

The company has a market cap of $8.64 billion, a P/E ratio of 11.42 and a beta of 0.88. The firm’s fifty day moving average is $284.11 and its two-hundred day moving average is $278.50.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. Primerica had a return on equity of 32.45% and a net margin of 23.20%. The business had revenue of $865.07 million for the quarter, compared to analysts’ expectations of $881.00 million. During the same period last year, the firm earned $5.46 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts expect that Primerica, Inc. will post 25.22 EPS for the current year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 21st were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 21st. Primerica’s dividend payout ratio (DPR) is 19.28%.

Insider Buying and Selling

In other Primerica news, Director Amber Cottle sold 279 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total value of $87,502.77. Following the completion of the transaction, the director directly owned 3,549 shares in the company, valued at $1,113,072.87. This represents a 7.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Glenn Williams sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $320.20, for a total value of $480,300.00. Following the completion of the transaction, the chief executive officer owned 32,196 shares of the company’s stock, valued at $10,309,159.20. The trade was a 4.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 3,579 shares of company stock valued at $1,130,573. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Primerica

A number of hedge funds and other institutional investors have recently modified their holdings of PRI. Ameritas Advisory Services LLC purchased a new stake in Primerica during the second quarter valued at approximately $26,000. SJS Investment Consulting Inc. lifted its stake in shares of Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 74 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Primerica in the 2nd quarter valued at approximately $29,000. Ashurst Perkins Coie Trust Co purchased a new position in shares of Primerica in the 3rd quarter worth approximately $42,000. Finally, Pension & Wealth Management Advisors Inc. purchased a new position in shares of Primerica in the 3rd quarter worth approximately $43,000. Institutional investors own 90.88% of the company’s stock.

About Primerica

Primerica, Inc is a financial services company that focuses on serving middle-income households in the United States and Canada, as well as families in Puerto Rico. The company distributes its products and services through a network of independent representatives who provide financial education and help clients address protection, savings and investment needs.

Primerica’s principal offerings include term life insurance, investment and savings products, retirement planning solutions, and strategies for managing debt.