Primerica (NYSE:PRI) Shares Down 1.2% – What’s Next?

Primerica, Inc. (NYSE:PRI)’s stock price dropped 1.2% during trading on Friday . The stock traded as low as $284.46 and last traded at $285.41. Approximately 43,268 shares were traded during trading, a decline of 72% from the average daily volume of 154,054 shares. The stock had previously closed at $288.89.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PRI shares. TD Cowen increased their price objective 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. Morgan Stanley lowered their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. BMO Capital Markets assumed coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Piper Sandler lowered 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. Finally, Keefe, Bruyette & Woods boosted their price target on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus price target of $309.86.

Primerica Stock Performance

The stock has a market cap of $9.50 billion, a P/E ratio of 20.77 and a beta of 1.12. The stock has a 50-day moving average price of $285.57 and a 200-day moving average price of $280.31.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping the consensus estimate 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 forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.46%. Primerica’s payout ratio is 30.25%.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the sale, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock worth $1,476,575 over the last quarter. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Primerica

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Primerica by 11.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,385 shares of the financial services provider’s stock worth $919,000 after buying an additional 354 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Primerica during the fourth quarter worth about $2,921,000. Burgundy Asset Management Ltd. lifted its holdings in Primerica by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider’s stock valued at $349,717,000 after acquiring an additional 21,208 shares during the last quarter. Vise Technologies Inc. purchased a new position in shares of Primerica during the 4th quarter worth $368,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Primerica by 9.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,679 shares of the financial services provider’s stock worth $38,726,000 after buying an additional 11,737 shares during the period. Hedge funds and other 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.