Primerica (NYSE:PRI) Shares Up 0.4% – Still a Buy?

Primerica, Inc. (NYSE:PRI)’s share price rose 0.4% during trading on Thursday . The stock traded as high as $281.00 and last traded at $278.65. Approximately 9,726 shares changed hands during trading, a decline of 93% from the average daily volume of 141,810 shares. The stock had previously closed at $277.55.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. TD Cowen raised their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price objective on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley lowered their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Finally, BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target for the company. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus target price of $309.86.

Primerica Stock Performance

The firm has a 50 day moving average price of $284.31 and a two-hundred day moving average price of $279.39. The company has a market capitalization of $9.24 billion, a P/E ratio of 20.22 and a beta of 1.12.

Primerica (NYSE:PRI) last released its quarterly 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 return on equity of 31.11% and a net margin of 15.14%. On average, equities analysts expect 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. 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 1.50%. The ex-dividend date is Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is 30.25%.

Primerica declared that its board has initiated a stock buyback program 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 repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now owns 200 shares of the company’s stock, valued at $56,030. The trade was a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock valued at $1,476,575 over the last three months. Company insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after acquiring an additional 25,951 shares during the period. Barclays PLC lifted its position in Primerica by 108.1% during the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock worth $5,428,000 after purchasing an additional 10,635 shares during the period. Sylvest Advisors LLC acquired a new stake in Primerica during the fourth quarter worth about $543,000. Oak Thistle LLC raised its position in shares of Primerica by 64.9% in the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock valued at $1,340,000 after buying an additional 1,943 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Primerica by 10.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after acquiring an additional 11,612 shares during the period. 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.