Primerica (NYSE:PRI) Trading 0.7% Higher – What’s Next?

Primerica, Inc. (NYSE:PRI)’s stock price rose 0.7% during mid-day trading on Tuesday . The stock traded as high as $294.88 and last traded at $294.04. Approximately 14,006 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 154,810 shares. The stock had previously closed at $292.04.

Analyst Ratings Changes

A number of equities analysts recently commented on PRI shares. Morgan Stanley dropped their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. BMO Capital Markets started coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Finally, TD Cowen upped their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Primerica presently has an average rating of “Hold” and an average price target of $309.86.

Primerica Stock Performance

The business’s 50 day moving average price is $286.20 and its 200 day moving average price is $280.98. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of 21.14 and a beta of 1.12.

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

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued 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 yield of 1.43%. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were 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. The trade was a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now owns 13,301 shares of the company’s stock, valued at $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 over the last three months. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primerica

Several institutional investors have recently bought and sold shares of PRI. Colonial Trust Co SC purchased a new position in shares of Primerica in the fourth quarter valued at approximately $25,000. True Wealth Design LLC purchased a new stake in shares of Primerica during the fourth quarter worth approximately $27,000. Golden State Wealth Management LLC acquired a new position in Primerica in the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC lifted its holdings in Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 71 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the last quarter. 90.88% of the stock is currently 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.