Primerica (NYSE:PRI) Trading Up 0.2% – Should You Buy?

Primerica, Inc. (NYSE:PRI)’s share price traded up 0.2% on Wednesday . The stock traded as high as $276.56 and last traded at $276.55. 15,758 shares were traded during mid-day trading, a decline of 88% from the average session volume of 128,478 shares. The stock had previously closed at $275.97.

Analyst Ratings Changes

PRI has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lowered their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Friday. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Monday. Piper Sandler cut their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Truist Financial boosted their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus price target of $303.00.

Primerica Trading Down 2.6 %

The stock has a market cap of $9.05 billion, a PE ratio of 20.72 and a beta of 1.11. The business has a 50 day moving average of $286.20 and a 200-day moving average of $267.30.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business had revenue of $774.13 million for the quarter, compared to analyst estimates of $745.25 million. During the same quarter in the previous year, the business posted $4.28 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities research analysts anticipate that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Thursday, November 21st. Primerica’s payout ratio is 27.50%.

Primerica declared that its Board of Directors has authorized a share repurchase plan on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the 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 transaction, the chief executive officer now owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Primerica

Institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Primerica during the 3rd quarter worth approximately $31,000. Prospera Private Wealth LLC acquired a new position in Primerica in the 3rd quarter worth about $31,000. UMB Bank n.a. raised its stake in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 67 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the period. Finally, Quarry LP lifted its holdings in Primerica by 629.2% in the third quarter. Quarry LP now owns 350 shares of the financial services provider’s stock valued at $93,000 after buying an additional 302 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

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.