Primerica (NYSE:PRI) Shares Down 0.1% – Time to Sell?

Shares of Primerica, Inc. (NYSE:PRI) dropped 0.1% on Friday . The company traded as low as $277.85 and last traded at $278.60. Approximately 10,291 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 137,753 shares. The stock had previously closed at $278.88.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PRI. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. BMO Capital Markets began coverage on shares of Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective on the stock. Truist Financial increased their target price on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Morgan Stanley boosted their price target on shares of Primerica from $308.00 to $313.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $311.14.

Primerica Trading Down 2.3 %

The company has a market capitalization of $9.12 billion, a PE ratio of 19.88 and a beta of 1.11. The stock’s fifty day moving average is $281.79 and its two-hundred day moving average is $276.82.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating 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, analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.52%. This is a positive change from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. Primerica’s dividend payout ratio is 26.18%.

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

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value 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 approximately $9,388,140.28. This trade represents a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 business. Burgundy Asset Management Ltd. raised its position in shares of 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 purchasing an additional 21,208 shares during the period. Vise Technologies Inc. purchased a new position in Primerica in the 4th quarter valued at approximately $368,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Primerica by 9.0% during the 4th 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 valued at $38,726,000 after acquiring an additional 11,737 shares during the period. Voloridge Investment Management LLC lifted its position in shares of Primerica by 527.1% during the fourth quarter. Voloridge Investment Management LLC now owns 42,816 shares of the financial services provider’s stock worth $11,621,000 after acquiring an additional 35,988 shares in the last quarter. Finally, iSAM Funds UK Ltd boosted its holdings in shares of Primerica by 76.3% in the fourth quarter. iSAM Funds UK Ltd now owns 4,950 shares of the financial services provider’s stock worth $1,344,000 after acquiring an additional 2,142 shares during the period. 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.