Primerica (NYSE:PRI) Trading Up 2% – Should You Buy?

Primerica, Inc. (NYSE:PRI) traded up 2% during mid-day trading on Tuesday . The company traded as high as $280.18 and last traded at $279.54. 17,540 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 130,671 shares. The stock had previously closed at $273.93.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods cut their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Truist Financial increased their price target on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a report on Tuesday. TD Cowen boosted their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Piper Sandler decreased their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $303.00.

Primerica Trading Up 2.1 %

The firm has a 50-day moving average of $286.04 and a 200 day moving average of $268.83. The company has a market cap of $9.64 billion, a P/E ratio of 22.07 and a beta of 1.11.

Primerica (NYSE:PRI) last released its quarterly 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. The business had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. 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 posted $4.28 EPS. On average, equities analysts predict that Primerica, Inc. will post 19.55 EPS for the current year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.25%. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Primerica announced that its board has initiated a stock buyback program 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 purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually a sign 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 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 transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

A number of institutional investors have recently made changes to their positions in PRI. V Square Quantitative Management LLC purchased a new stake in Primerica during the third quarter valued at $31,000. Prospera Private Wealth LLC purchased a new position in Primerica during the third quarter valued at $31,000. UMB Bank n.a. lifted 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 worth $38,000 after buying an additional 67 shares in the last quarter. Larson Financial Group LLC grew its holdings 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 valued at $39,000 after purchasing an additional 54 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Primerica by 629.2% in the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider’s stock worth $93,000 after buying an additional 302 shares during the last quarter. Hedge funds and other institutional investors 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.