Primerica (NYSE:PRI) Trading Up 2% – What’s Next?

Primerica, Inc. (NYSE:PRI) traded up 2% during trading on Tuesday . The company traded as high as $280.18 and last traded at $279.54. 17,540 shares were traded 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 Upgrades and Downgrades

Several research firms recently commented on PRI. TD Cowen upped 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. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial boosted 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. Keefe, Bruyette & Woods dropped their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Friday. Finally, Piper Sandler reduced their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $303.00.

Primerica Trading Up 2.3 %

The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 21.42 and a beta of 1.11. The stock’s 50-day moving average is $286.13 and its 200-day moving average is $268.26.

Primerica (NYSE:PRI) last announced 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. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. During the same period in the prior year, the company earned $4.28 EPS. Primerica’s revenue was up 11.0% compared to the same quarter last year. 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. Stockholders of record on Thursday, November 21st were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Thursday, November 21st. Primerica’s payout ratio is currently 27.50%.

Primerica announced that its Board of Directors has authorized a stock 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 reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PRI. V Square Quantitative Management LLC bought a new position in shares of Primerica during the 3rd quarter worth approximately $31,000. Prospera Private Wealth LLC bought a new position in Primerica during the third quarter worth $31,000. UMB Bank n.a. grew its holdings in 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 purchasing an additional 67 shares during the period. Larson Financial Group LLC increased its stake in 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 raised its holdings in shares of Primerica by 629.2% during the third quarter. Quarry LP now owns 350 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 302 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

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.