Primerica (NYSE:PRI) Trading 0.4% Higher – Should You Buy?

Primerica, Inc. (NYSE:PRI) shares were up 0.4% during mid-day trading on Friday . The company traded as high as $286.67 and last traded at $285.49. Approximately 19,754 shares were traded during trading, a decline of 86% from the average daily volume of 137,693 shares. The stock had previously closed at $284.31.

Analyst Ratings Changes

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

Primerica Stock Up 2.0 %

The firm’s 50-day simple moving average is $282.64 and its 200-day simple moving average is $278.13. The firm has a market capitalization of $9.67 billion, a PE ratio of 21.08 and a beta of 1.11.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, equities research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.44%. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, February 21st. Primerica’s payout ratio is presently 30.25%.

Primerica announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 14th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Colonial Trust Co SC purchased a new position in shares of Primerica during the fourth quarter valued at approximately $25,000. True Wealth Design LLC bought a new stake in Primerica in the fourth quarter valued at $27,000. Prospera Private Wealth LLC purchased a new position in Primerica during the 3rd quarter valued at $31,000. Golden State Wealth Management LLC bought a new position in Primerica in the 4th quarter worth $33,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 71 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.