Primerica (NYSE:PRI) Stock Price Down 0.1% – Here’s Why

Primerica, Inc. (NYSE:PRI) traded down 0.1% during trading on Friday . The stock traded as low as $282.81 and last traded at $284.37. 8,282 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 152,038 shares. The stock had previously closed at $284.54.

Wall Street Analyst Weigh In

Several brokerages have commented on PRI. TD Cowen raised their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler initiated coverage on Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price on the stock. Truist Financial boosted their price target on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley upped their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $293.50.

Primerica Stock Performance

The stock has a market capitalization of $9.38 billion, a P/E ratio of 21.48 and a beta of 1.09. The business has a 50 day simple moving average of $287.74 and a 200-day simple moving average of $261.23.

Primerica (NYSE:PRI) last announced 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 return on equity of 30.93% and a net margin of 14.95%. The business had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. During the same quarter last year, the business posted $4.28 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts forecast that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were paid a $0.90 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.28%. Primerica’s dividend payout ratio is currently 27.50%.

Primerica announced that its board has approved a share repurchase 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 stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, November 11th. The shares were 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 in the company, valued at approximately $10,942,728.94. The trade was 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 this hyperlink. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Several large investors have recently modified their holdings of the stock. ORG Partners LLC acquired a new stake in shares of Primerica during the second quarter worth $30,000. V Square Quantitative Management LLC purchased a new position in Primerica in the 3rd quarter worth about $31,000. Prospera Private Wealth LLC acquired a new stake in Primerica during the 3rd quarter worth about $31,000. UMB Bank n.a. lifted its stake in 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 buying an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC boosted 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 worth $39,000 after buying an additional 54 shares during the period. 90.88% of the stock is owned by institutional investors.

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.