Primerica (NYSE:PRI) Stock Price Down 0.4% – What’s Next?

Primerica, Inc. (NYSE:PRI)’s stock price traded down 0.4% during mid-day trading on Friday . The stock traded as low as $270.54 and last traded at $271.51. 6,762 shares traded hands during trading, a decline of 96% from the average session volume of 155,485 shares. The stock had previously closed at $272.51.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PRI shares. Truist Financial upped 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. Piper Sandler reduced their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Finally, TD Cowen upped their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Primerica presently has an average rating of “Hold” and an average target price of $296.33.

Primerica Stock Performance

The company has a market cap of $9.00 billion, a price-to-earnings ratio of 20.61 and a beta of 1.09. The company’s 50 day moving average price is $286.99 and its 200 day moving average price is $264.18.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. The firm had revenue of $774.13 million for the quarter, compared to analyst estimates of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $4.28 EPS. As a group, analysts predict that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.33%. Primerica’s dividend payout ratio is currently 27.50%.

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

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Primerica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRI. Geode Capital Management LLC increased its stake in shares of Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after acquiring an additional 25,951 shares during the last quarter. Barclays PLC grew its holdings in Primerica by 108.1% during the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after purchasing an additional 10,635 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Primerica in the third quarter valued at approximately $3,710,000. BNP Paribas Financial Markets raised its holdings in Primerica by 320.6% in the third quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider’s stock worth $1,525,000 after purchasing an additional 4,383 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Primerica during the third quarter worth $646,000. 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.