Primerica (NYSE:PRI) Trading 1.5% Higher – What’s Next?

Primerica, Inc. (NYSE:PRI) traded up 1.5% on Wednesday . The stock traded as high as $295.88 and last traded at $295.53. 15,824 shares were traded during trading, a decline of 88% from the average session volume of 131,767 shares. The stock had previously closed at $291.19.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. TD Cowen boosted their price objective on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. 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. BMO Capital Markets began coverage on Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Finally, Truist Financial upped their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus target price of $304.14.

Primerica Price Performance

The company has a market capitalization of $9.91 billion, a PE ratio of 22.68 and a beta of 1.11. The company’s fifty day moving average is $283.49 and its 200-day moving average is $274.17.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $4.28 EPS. Equities research analysts forecast that Primerica, Inc. will post 19.79 EPS for the current fiscal year.

Primerica declared that its Board of Directors has approved a share buyback program on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares in the company, 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 link. Insiders own 0.61% of the company’s stock.

Institutional Trading of Primerica

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in Primerica by 3.9% during the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after acquiring an additional 25,951 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Primerica in the fourth quarter valued at approximately $34,191,000. Raymond James & Associates increased its position in shares of Primerica by 4.6% in the third quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock valued at $32,176,000 after buying an additional 5,323 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Primerica by 10.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock valued at $32,573,000 after buying an additional 11,612 shares in the last quarter. Finally, Prospector Partners LLC increased its position in shares of Primerica by 0.3% in the third quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider’s stock valued at $20,431,000 after buying an additional 210 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other 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.