Primerica (NYSE:PRI) Trading Up 1.4% – What’s Next?

Primerica, Inc. (NYSE:PRI)’s stock price was up 1.4% during mid-day trading on Monday . The stock traded as high as $294.01 and last traded at $294.01. Approximately 17,219 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 138,066 shares. The stock had previously closed at $290.00.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. Morgan Stanley decreased their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday. Keefe, Bruyette & Woods increased their price target on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Finally, Truist Financial lifted their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $309.86.

Primerica Stock Down 0.3 %

The business’s 50-day simple moving average is $282.64 and its two-hundred day simple moving average is $278.28. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 21.03 and a beta of 1.11.

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

Primerica Increases Dividend

The company also recently disclosed 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 represents a $4.16 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is currently 30.25%.

Primerica declared that its board has initiated a stock buyback program on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This represents a 8.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Primerica

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in Primerica by 3.9% in 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 purchasing an additional 25,951 shares during the period. Barclays PLC boosted its stake in shares of Primerica by 108.1% in the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after buying an additional 10,635 shares during the period. Sylvest Advisors LLC acquired a new position in shares of Primerica during the fourth quarter worth about $543,000. Oak Thistle LLC increased its stake in shares of Primerica by 64.9% during the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after buying an additional 1,943 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in shares of Primerica by 10.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after buying an additional 11,612 shares during the period. Institutional investors and hedge funds 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.