Primerica (NYSE:PRI) Trading Down 0% – What’s Next?

Shares of Primerica, Inc. (NYSE:PRI) were down 0% on Monday . The stock traded as low as $288.93 and last traded at $290.20. Approximately 13,671 shares were traded during trading, a decline of 89% from the average daily volume of 128,106 shares. The stock had previously closed at $290.21.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PRI. Truist Financial boosted their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Piper Sandler lowered their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. TD Cowen boosted their target price on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods decreased their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $304.14.

Primerica Stock Up 0.6 %

The stock has a 50-day moving average of $284.77 and a 200-day moving average of $272.40. The company has a market cap of $9.74 billion, a PE ratio of 22.29 and a beta of 1.11.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. The firm had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $4.28 EPS. Research analysts expect that Primerica, Inc. will post 19.79 EPS for the current year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.23%. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Primerica declared that its board has approved a stock repurchase program on Thursday, November 14th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Primerica

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 value of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Primerica

Hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new position in shares of Primerica in the 3rd quarter valued at approximately $31,000. Prospera Private Wealth LLC bought a new position in Primerica in the third quarter worth $31,000. Golden State Wealth Management LLC purchased a new position in Primerica during the fourth quarter valued at $33,000. UMB Bank n.a. boosted its holdings in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after buying an additional 54 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

About Primerica

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.