Primerica (NYSE:PRI) Trading 0.7% Higher – Here’s Why

Primerica, Inc. (NYSE:PRI)’s share price traded up 0.7% during trading on Wednesday . The company traded as high as $290.63 and last traded at $289.80. 12,075 shares changed hands during trading, a decline of 92% from the average session volume of 153,328 shares. The stock had previously closed at $287.77.

Analyst Ratings Changes

A number of analysts recently commented on the company. TD Cowen lifted their price objective on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley decreased their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Piper Sandler decreased their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, BMO Capital Markets started coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target on the stock. 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, Primerica has an average rating of “Hold” and a consensus price target of $309.86.

Primerica Trading Down 0.7 %

The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 20.89 and a beta of 1.12. The firm has a 50 day moving average price of $285.57 and a two-hundred day moving average price of $280.31.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. As a group, research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were paid a $1.04 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s payout ratio is currently 30.25%.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now owns 200 shares in the company, valued at $56,030. This represents a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,234 shares of company stock valued at $1,476,575. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Primerica

Institutional investors and hedge funds have recently made changes to their positions in the company. Colonial Trust Co SC acquired a new stake in shares of Primerica during the 4th quarter valued at approximately $25,000. True Wealth Design LLC acquired a new stake in shares of Primerica during the 4th quarter valued at approximately $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Primerica during the 3rd quarter valued at approximately $31,000. Golden State Wealth Management LLC acquired a new stake in Primerica in the fourth quarter worth $33,000. Finally, EverSource Wealth Advisors LLC increased its position in 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 buying an additional 71 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

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.