Primerica (NYSE:PRI) Stock Price Up 1.2% – Time to Buy?

Shares of Primerica, Inc. (NYSE:PRI) rose 1.2% during trading on Wednesday . The stock traded as high as $296.00 and last traded at $293.92. Approximately 18,835 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 156,412 shares. The stock had previously closed at $290.52.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PRI. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Morgan Stanley dropped their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Piper Sandler lowered their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. BMO Capital Markets assumed 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. Finally, Keefe, Bruyette & Woods boosted their target price 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. 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 currently has a consensus rating of “Hold” and a consensus price target of $309.86.

Primerica Stock Performance

The stock has a fifty day moving average price of $286.54 and a 200-day moving average price of $281.35. The firm has a market cap of $9.42 billion, a PE ratio of 20.61 and a beta of 1.12.

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

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is currently 30.25%.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock worth $1,476,575 over the last 90 days. Company insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

Institutional investors have recently added to or reduced their stakes in the business. Colonial Trust Co SC acquired a new position in shares of Primerica in the 4th quarter valued at about $25,000. True Wealth Design LLC bought a new position in Primerica in the fourth quarter worth about $27,000. Golden State Wealth Management LLC acquired a new position in Primerica in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC grew its holdings in shares of Primerica by 129.1% during the fourth 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 during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of 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 period. Institutional investors own 90.88% of the company’s stock.

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.