Primerica (NYSE:PRI) Stock Price Down 0.4% – Should You Sell?

Primerica, Inc. (NYSE:PRI)’s stock price was down 0.4% on Friday . The stock traded as low as $270.54 and last traded at $271.51. Approximately 6,762 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 155,485 shares. The stock had previously closed at $272.51.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PRI shares. Truist Financial raised their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. TD Cowen upped their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Piper Sandler cut their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $296.33.

Primerica Stock Down 0.7 %

The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 20.67 and a beta of 1.09. The company’s 50-day moving average price is $286.82 and its 200-day moving average price is $264.80.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.28 earnings per share. Analysts predict that Primerica, Inc. will post 19.32 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.33%. The ex-dividend date was Thursday, November 21st. Primerica’s payout ratio is currently 27.50%.

Primerica announced that its board has approved a stock buyback plan on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares of the company’s stock, valued at $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Primerica

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Primerica in the 3rd quarter valued at approximately $31,000. Prospera Private Wealth LLC acquired a new stake in shares of Primerica in the third quarter valued at $31,000. UMB Bank n.a. boosted its holdings in Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 67 shares during the period. Larson Financial Group LLC grew 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 in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Primerica during the 2nd quarter worth $71,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

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.