Primerica (NYSE:PRI) Shares Up 0.2% – Here’s Why

Primerica, Inc. (NYSE:PRI)’s share price shot up 0.2% during trading on Wednesday . The stock traded as high as $276.56 and last traded at $276.55. 15,758 shares were traded during trading, a decline of 88% from the average session volume of 128,478 shares. The stock had previously closed at $275.97.

Analyst Ratings Changes

PRI has been the topic of a number of recent research reports. TD Cowen upped their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Truist Financial raised their target price on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Piper Sandler reduced their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $296.33.

Primerica Trading Up 0.3 %

The company has a market capitalization of $9.23 billion, a PE ratio of 21.14 and a beta of 1.11. The business’s fifty day moving average is $286.20 and its two-hundred day moving average is $267.15.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. During the same quarter in the previous year, the business earned $4.28 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts anticipate that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.30%. The ex-dividend date was Thursday, November 21st. Primerica’s dividend payout ratio is currently 27.50%.

Primerica declared that its board has authorized a stock repurchase plan 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 purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PRI. V Square Quantitative Management LLC bought a new stake in Primerica during the third quarter valued at about $31,000. Prospera Private Wealth LLC bought a new position in shares of Primerica during the 3rd quarter valued at approximately $31,000. UMB Bank n.a. increased 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 acquiring an additional 67 shares in the last quarter. Larson Financial Group LLC raised its stake in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the period. Finally, Quarry LP lifted its stake in shares of Primerica by 629.2% during the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider’s stock valued at $93,000 after buying an additional 302 shares in the last quarter. Hedge funds and other 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.