Primerica (NYSE:PRI) Shares Up 0.7% – Time to Buy?

Shares of Primerica, Inc. (NYSE:PRI) rose 0.7% during trading on Tuesday . The company traded as high as $294.88 and last traded at $294.04. Approximately 14,006 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 154,810 shares. The stock had previously closed at $292.04.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PRI. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Piper Sandler reduced their target price 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. Morgan Stanley lowered 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. Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, BMO Capital Markets assumed coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price for the company. 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, Primerica currently has an average rating of “Hold” and an average target price of $309.86.

Primerica Stock Performance

The firm’s 50 day moving average is $286.52 and its 200-day moving average is $281.29. The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 21.23 and a beta of 1.12.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping 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%. As a group, sell-side analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.42%. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is currently 30.25%.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s 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 owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 over the last three months. 0.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Primerica

Hedge funds have recently made changes to their positions in the company. Colonial Trust Co SC purchased a new position in shares of Primerica during the 4th quarter worth approximately $25,000. True Wealth Design LLC acquired a new position in Primerica in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC purchased a new stake in Primerica during the fourth quarter worth about $33,000. EverSource Wealth Advisors LLC lifted its position in shares of Primerica by 129.1% during the fourth 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 in the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 54 shares during the period. 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.