Primerica (NYSE:PRI) Shares Down 1.5% – Time to Sell?

Primerica, Inc. (NYSE:PRI) fell 1.5% during trading on Monday . The company traded as low as $298.20 and last traded at $298.20. 12,770 shares traded hands during trading, a decline of 92% from the average session volume of 152,650 shares. The stock had previously closed at $302.75.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PRI. Truist Financial lifted 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. TD Cowen lifted their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler began coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price for the company. Morgan Stanley boosted their target price on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Finally, StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $293.50.

Primerica Price Performance

The business’s 50-day moving average price is $284.29 and its 200 day moving average price is $258.31. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 22.70 and a beta of 1.09.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS 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 business had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. During the same period in the previous year, the company posted $4.28 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Primerica, Inc. will post 19.32 earnings per share for the current year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.90 per share. The ex-dividend date is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.21%. Primerica’s payout ratio is currently 27.50%.

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

Insider Buying and Selling at Primerica

In other news, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares in the company, valued at approximately $3,846,081.35. This represents a 11.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares of the company’s stock, valued at $10,942,728.94. This represents a 7.63 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Primerica

Several institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Primerica during the third quarter worth about $336,000. Sanctuary Advisors LLC grew its position in Primerica by 21.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 5,632 shares of the financial services provider’s stock valued at $1,493,000 after buying an additional 990 shares in the last quarter. SkyView Investment Advisors LLC grew its position in Primerica by 2.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 6,408 shares of the financial services provider’s stock valued at $1,699,000 after buying an additional 137 shares in the last quarter. TD Private Client Wealth LLC grew its position in Primerica by 52.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 365 shares of the financial services provider’s stock valued at $97,000 after buying an additional 126 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its position in Primerica by 3.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,294 shares of the financial services provider’s stock valued at $611,000 after buying an additional 76 shares in the last quarter. 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.