Primerica (NYSE:PRI) Trading Up 0.6% – Should You Buy?

Primerica, Inc. (NYSE:PRI) was up 0.6% during mid-day trading on Wednesday . The company traded as high as $271.72 and last traded at $271.72. Approximately 67,486 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 156,347 shares. The stock had previously closed at $270.21.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PRI. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. TD Cowen upped their price objective on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Truist Financial lifted their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler lowered their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $296.33.

Primerica Stock Performance

The firm has a market capitalization of $9.09 billion, a PE ratio of 20.82 and a beta of 1.09. The company has a fifty day moving average price of $286.99 and a 200-day moving average price of $264.18.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. During the same quarter last year, the business earned $4.28 earnings per share. Primerica’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts predict that Primerica, Inc. will post 19.32 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were given a $0.90 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.32%. Primerica’s dividend payout ratio is currently 27.50%.

Primerica announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PRI. Millennium Management LLC boosted its stake in shares of Primerica by 30,726.7% during the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after purchasing an additional 678,752 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Primerica by 66.3% during the second quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock valued at $23,601,000 after buying an additional 39,761 shares during the period. Squarepoint Ops LLC grew its stake in shares of Primerica by 2,986.9% during the second quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider’s stock valued at $7,595,000 after buying an additional 31,064 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Primerica in the second quarter worth approximately $71,000. Finally, Geode Capital Management LLC lifted its stake in shares of 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 last quarter. 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.