Primerica (NYSE:PRI) Shares Up 1.6% – What’s Next?

Primerica, Inc. (NYSE:PRI)’s share price rose 1.6% during trading on Monday . The stock traded as high as $292.61 and last traded at $290.05. Approximately 36,107 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 141,042 shares. The stock had previously closed at $285.37.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PRI. Piper Sandler cut their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. 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 objective on the stock. Keefe, Bruyette & Woods lifted their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley cut their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Primerica presently has an average rating of “Hold” and a consensus price target of $309.86.

Primerica Stock Up 2.0 %

The firm has a market cap of $9.68 billion, a PE ratio of 21.17 and a beta of 1.12. The firm has a 50-day moving average price of $284.60 and a two-hundred day moving average price of $279.81.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating 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%. Research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were given a dividend of $1.04 per share. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the sale, the president now directly owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock worth $1,476,575 in the last ninety days. 0.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Primerica

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased 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 buying an additional 25,951 shares during the last quarter. Barclays PLC lifted its stake in Primerica by 108.1% in the third 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 last quarter. Sylvest Advisors LLC acquired a new position in shares of Primerica in the 4th quarter valued at $543,000. Oak Thistle LLC boosted its stake in Primerica by 64.9% during the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after purchasing an additional 1,943 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in Primerica by 10.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after purchasing an additional 11,612 shares during 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.