Primerica (NYSE:PRI) Trading Down 0.2% on Insider Selling

Primerica, Inc. (NYSE:PRI) dropped 0.2% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $280.32 and last traded at $285.29. Approximately 16,243 shares changed hands during trading, a decline of 88% from the average daily volume of 139,680 shares. The stock had previously closed at $285.93.

Specifically, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at approximately $56,030. This trade represents a 53.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Analysts Set New Price Targets

PRI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price target on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. TD Cowen upped their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Truist Financial lifted their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Piper Sandler reduced their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Finally, StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Primerica presently has a consensus rating of “Hold” and an average price target of $309.86.

Primerica Stock Performance

The company has a market capitalization of $9.52 billion, a PE ratio of 20.75 and a beta of 1.11. The stock has a 50 day moving average price of $283.52 and a two-hundred day moving average price of $278.73.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) 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%. Sell-side analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.46%. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, February 21st. Primerica’s dividend payout ratio is presently 30.25%.

Primerica announced that its Board of Directors has authorized a share repurchase program on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Colonial Trust Co SC bought a new stake in Primerica during the fourth quarter worth approximately $25,000. True Wealth Design LLC acquired a new position in Primerica during the 4th quarter worth $27,000. Prospera Private Wealth LLC bought a new stake in Primerica during the 3rd quarter valued at approximately $31,000. Golden State Wealth Management LLC bought a new stake in shares of Primerica in the fourth quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 71 shares during the last quarter. Institutional investors and hedge funds 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.