Primerica (NYSE:PRI) Shares Down 0.5% - What's Next?

Primerica, Inc. (NYSE:PRI - Get Free Report) fell 0.5% on Wednesday . The company traded as low as $296.06 and last traded at $297.11. 5,690 shares traded hands during trading, a decline of 96% from the average session volume of 152,724 shares. The stock had previously closed at $298.57.

Wall Street Analyst Weigh In

PRI has been the topic of a number of analyst reports. Truist Financial increased their price target on Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. TD Cowen increased their price target on Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Morgan Stanley increased their price target on Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research report on Monday, August 19th. StockNews.com raised Primerica from a "hold" rating to a "buy" rating in a report on Friday, November 22nd. Finally, Piper Sandler started coverage on Primerica in a report on Friday, August 30th. They issued a "neutral" rating and a $283.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Primerica currently has an average rating of "Hold" and a consensus price target of $293.50.

Primerica Trading Down 0.3 %

The firm has a market capitalization of $9.93 billion, a P/E ratio of 22.70 and a beta of 1.09. The company has a 50-day moving average of $284.29 and a 200-day moving average of $258.31.

Primerica (NYSE:PRI - Get Free Report) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The business had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. During the same period last year, the company earned $4.28 EPS. Primerica's revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts predict that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica's payout ratio is 27.50%.

Primerica declared that its Board of Directors has initiated a stock buyback program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. This trade represents a 11.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. This represents a 7.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On Primerica

Large investors have recently bought and sold shares of the stock. ORG Partners LLC purchased a new position in Primerica during the 2nd quarter worth $30,000. V Square Quantitative Management LLC purchased a new position in Primerica during the 3rd quarter worth $31,000. Prospera Private Wealth LLC purchased a new position in Primerica during the 3rd quarter worth $31,000. UMB Bank n.a. boosted its holdings in Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock worth $38,000 after acquiring an additional 67 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings 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 acquiring an additional 54 shares during the last quarter. 90.88% of the stock is currently owned by 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.

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