Primerica (NYSE:PRI) Shares Down 0.2% – What’s Next?

Shares of Primerica, Inc. (NYSE:PRI) fell 0.2% during trading on Thursday . The company traded as low as $290.83 and last traded at $292.58. 9,184 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 128,286 shares. The stock had previously closed at $293.12.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PRI. Piper Sandler cut their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. TD Cowen increased their price target 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. BMO Capital Markets started coverage on shares of Primerica in a research report on Thursday. They set a “market perform” rating and a $311.00 price target for the company. Keefe, Bruyette & Woods decreased their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Finally, StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Wednesday. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Primerica has a consensus rating of “Hold” and an average target price of $304.14.

Primerica Trading Down 0.4 %

The company has a market cap of $9.74 billion, a P/E ratio of 22.32 and a beta of 1.11. The business’s 50 day simple moving average is $285.42 and its 200 day simple moving average is $270.64.

Primerica (NYSE:PRI) last announced its quarterly 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. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. During the same quarter in the previous year, the business posted $4.28 earnings per share. Primerica’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts anticipate that Primerica, Inc. will post 19.75 EPS for the current year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Thursday, November 21st. Primerica’s dividend payout ratio is currently 27.50%.

Primerica announced that its Board of Directors has initiated a share buyback plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares in the company, valued at $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

Several institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc raised its holdings in shares of Primerica by 3.5% in the third quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 36 shares in the last quarter. Creative Planning raised its holdings in Primerica by 0.7% in the third quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock worth $1,613,000 after purchasing an additional 40 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in Primerica by 0.7% in the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock worth $1,549,000 after purchasing an additional 43 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its holdings in shares of Primerica by 1.0% during the second quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider’s stock valued at $1,484,000 after acquiring an additional 62 shares in the last quarter. 90.88% of the stock is currently owned by 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.