Primerica (NYSE:PRI) Trading Down 0% – Should You Sell?

Primerica, Inc. (NYSE:PRI) shares dropped 0% during trading on Thursday . The company traded as low as $270.20 and last traded at $271.67. Approximately 9,202 shares were traded during trading, a decline of 94% from the average daily volume of 155,751 shares. The stock had previously closed at $271.72.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PRI shares. Piper Sandler reduced their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. TD Cowen lifted their target price 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. Finally, Truist Financial increased their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $296.33.

Primerica Stock Performance

The stock has a market capitalization of $9.12 billion, a P/E ratio of 20.89 and a beta of 1.09. The business has a 50-day moving average price of $287.16 and a 200 day moving average price of $264.12.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping the consensus estimate of $4.81 by $0.87. The business had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $4.28 earnings per share. As a group, research analysts forecast that Primerica, Inc. will post 19.32 earnings per share 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 $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s dividend payout ratio is currently 27.50%.

Primerica declared that its Board of Directors has authorized a share buyback plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership 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 on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new position in shares of Primerica during the 3rd quarter valued at $31,000. Prospera Private Wealth LLC bought a new stake in Primerica during the 3rd quarter valued at approximately $31,000. UMB Bank n.a. lifted its holdings in Primerica by 85.9% in the 3rd 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 in the last quarter. Larson Financial Group LLC boosted its stake in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in Primerica during the 2nd quarter valued at approximately $71,000. Institutional investors own 90.88% of the company’s stock.

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.