Primerica (NYSE:PRI) Shares Down 0.8% - Should You Sell?

Primerica, Inc. (NYSE:PRI - Get Free Report) fell 0.8% during trading on Monday . The company traded as low as $293.46 and last traded at $294.05. 16,697 shares were traded during trading, a decline of 87% from the average session volume of 132,542 shares. The stock had previously closed at $296.43.

Analyst Ratings Changes

PRI has been the subject of several research analyst reports. Keefe, Bruyette & Woods cut their price objective on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Friday, January 10th. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. BMO Capital Markets started coverage on shares of Primerica in a report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price objective on the stock. Piper Sandler dropped their target price 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. Finally, StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $304.14.

Primerica Stock Performance

The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 21.75 and a beta of 1.11. The business's 50-day moving average is $282.68 and its two-hundred day moving average is $275.45.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating analysts' consensus estimates of $4.81 by $0.22. Primerica had a net margin of 14.95% and a return on equity of 30.93%. Analysts forecast that Primerica, Inc. will post 19.79 EPS for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio is 27.50%.

Primerica announced that its board has initiated a stock buyback plan on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Primerica in the 3rd quarter valued at $31,000. Prospera Private Wealth LLC bought a new position in Primerica in the third quarter valued at approximately $31,000. Golden State Wealth Management LLC acquired a new position in shares of Primerica during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its stake in shares of Primerica by 129.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock worth $34,000 after purchasing an additional 71 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings 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 valued at $39,000 after buying an additional 54 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

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.