Primerica (NYSE:PRI) Trading Down 0.9% – Time to Sell?

Primerica, Inc. (NYSE:PRI)’s share price traded down 0.9% during trading on Wednesday . The company traded as low as $274.18 and last traded at $275.16. 17,678 shares were traded during trading, a decline of 88% from the average session volume of 141,556 shares. The stock had previously closed at $277.72.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley reduced their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. TD Cowen boosted their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler decreased their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Finally, BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $309.86.

Primerica Trading Up 0.2 %

The firm has a market cap of $9.25 billion, a P/E ratio of 20.23 and a beta of 1.12. The firm has a 50-day simple moving average of $284.19 and a 200-day simple moving average of $279.40.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Research analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a $1.04 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.49%. Primerica’s dividend payout ratio is presently 30.25%.

Primerica announced that its board has initiated a share repurchase plan on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now owns 200 shares of the company’s stock, valued at $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the sale, the president now owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRI. Burgundy Asset Management Ltd. grew its stake in shares of Primerica by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider’s stock valued at $349,717,000 after buying an additional 21,208 shares during the period. Geode Capital Management LLC lifted its holdings in Primerica by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock worth $211,691,000 after buying an additional 82,921 shares in the last quarter. Northern Trust Corp raised its stake in shares of Primerica by 15.6% in the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider’s stock valued at $94,194,000 after purchasing an additional 46,935 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Primerica by 1.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 230,736 shares of the financial services provider’s stock valued at $62,626,000 after purchasing an additional 2,905 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of Primerica by 0.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 159,774 shares of the financial services provider’s stock valued at $43,366,000 after buying an additional 1,484 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

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.