Primerica (NYSE:PRI) Trading Down 0.8% – Time to Sell?

Primerica, Inc. (NYSE:PRI) shares fell 0.8% during mid-day trading on Monday . The stock traded as low as $293.46 and last traded at $294.05. 16,697 shares were traded during mid-day trading, a decline of 87% from the average session volume of 132,542 shares. The stock had previously closed at $296.43.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial increased their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Piper Sandler reduced their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. BMO Capital Markets assumed coverage on Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reduced their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $304.14.

Primerica Trading Down 4.0 %

The business’s 50 day simple moving average is $283.06 and its two-hundred day simple moving average is $275.43. The firm has a market capitalization of $9.30 billion, a PE ratio of 21.29 and a beta of 1.11.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 30.93% and a net margin of 14.95%. As a group, equities research analysts anticipate that Primerica, Inc. will post 19.79 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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 1.49%. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is 27.50%.

Primerica announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Primerica

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Primerica by 3.9% during the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after purchasing an additional 25,951 shares during the period. Barclays PLC lifted its position in shares of Primerica by 108.1% during the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after buying an additional 10,635 shares in the last quarter. Sylvest Advisors LLC bought a new position in shares of Primerica during the 4th quarter valued at approximately $543,000. Oak Thistle LLC increased its holdings in Primerica by 64.9% in the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after acquiring an additional 1,943 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Primerica during the 3rd quarter worth approximately $3,710,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

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.