Primerica (NYSE:PRI) Stock Price Down 0.1% – What’s Next?

Shares of Primerica, Inc. (NYSE:PRI) fell 0.1% on Wednesday . The stock traded as low as $292.17 and last traded at $293.38. 11,401 shares were traded during mid-day trading, a decline of 91% from the average session volume of 130,730 shares. The stock had previously closed at $293.53.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRI. TD Cowen upped their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler decreased their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods cut their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Truist Financial boosted their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $303.00.

Primerica Price Performance

The company’s 50 day simple moving average is $285.57 and its two-hundred day simple moving average is $270.49. The stock has a market capitalization of $9.78 billion, a P/E ratio of 22.39 and a beta of 1.11.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same period in the previous year, the firm posted $4.28 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. On average, research analysts anticipate that Primerica, Inc. will post 19.75 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.23%. Primerica’s payout ratio is currently 27.50%.

Primerica announced that its Board of Directors has approved a share buyback program on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’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 transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

Institutional Trading of Primerica

A number of institutional investors and hedge funds have recently made changes to their positions in the company. KBC Group NV grew its holdings in Primerica by 51.9% during the 4th quarter. KBC Group NV now owns 1,329 shares of the financial services provider’s stock worth $361,000 after acquiring an additional 454 shares during the last quarter. Blue Trust Inc. boosted its position in Primerica by 44.7% during the fourth quarter. Blue Trust Inc. now owns 965 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 298 shares during the last quarter. Running Oak Capital LLC lifted its stake in shares of Primerica by 3.7% in the 4th quarter. Running Oak Capital LLC now owns 53,644 shares of the financial services provider’s stock valued at $14,560,000 after purchasing an additional 1,919 shares during the period. Exchange Traded Concepts LLC increased its holdings in Primerica by 3.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,959 shares of the financial services provider’s stock worth $803,000 after purchasing an additional 100 shares in the last quarter. Finally, Mutual Advisors LLC grew its position in shares of Primerica by 10.8% during the 4th quarter. Mutual Advisors LLC now owns 1,394 shares of the financial services provider’s stock worth $402,000 after buying an additional 136 shares during the period. Institutional investors own 90.88% of the company’s stock.

About Primerica

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.