Primerica (NYSE:PRI) Trading Down 1.4% – Should You Sell?

Primerica, Inc. (NYSE:PRI) traded down 1.4% during trading on Tuesday . The stock traded as low as $276.55 and last traded at $276.55. 29,343 shares were traded during mid-day trading, a decline of 81% from the average session volume of 152,194 shares. The stock had previously closed at $280.53.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PRI. TD Cowen increased their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler lowered their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday. Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $296.33.

Primerica Stock Down 0.1 %

The firm has a market cap of $8.90 billion, a PE ratio of 20.39 and a beta of 1.09. The firm’s fifty day simple moving average is $287.90 and its two-hundred day simple moving average is $262.56.

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

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.35%. The ex-dividend date was Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

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

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred 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 directly owns 36,322 shares of the company’s stock, valued at $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. grew its position in Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 60 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Primerica by 450.9% in the second quarter. Fifth Third Bancorp now owns 1,614 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 1,321 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Primerica in the 2nd quarter worth about $267,000. &PARTNERS bought a new stake in Primerica during the 2nd quarter valued at about $399,000. Finally, Everhart Financial Group Inc. boosted its position in Primerica by 16.2% in the 2nd quarter. Everhart Financial Group Inc. now owns 2,108 shares of the financial services provider’s stock valued at $499,000 after buying an additional 294 shares during the period. 90.88% of the stock is 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.