Primerica (NYSE:PRI) Shares Down 1.9% - What's Next?

Primerica, Inc. (NYSE:PRI - Get Free Report) shares traded down 1.9% during mid-day trading on Friday . The stock traded as low as $283.12 and last traded at $284.46. 17,247 shares changed hands during trading, a decline of 89% from the average session volume of 157,183 shares. The stock had previously closed at $289.92.

Analysts Set New Price Targets

A number of brokerages have recently commented on PRI. BMO Capital Markets started coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 target price on the stock. Piper Sandler cut their price objective on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. StockNews.com cut Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Morgan Stanley lowered their target price on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods boosted their price target on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $309.86.

Primerica Price Performance

The business has a fifty day moving average of $286.11 and a 200 day moving average of $282.43. The stock has a market cap of $9.65 billion, a PE ratio of 21.12 and a beta of 1.12.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping analysts' consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, equities research analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.43%. This is an increase from Primerica's previous quarterly dividend of $0.90. Primerica's payout ratio is presently 30.25%.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the sale, the president now owns 13,301 shares in the company, valued at $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares of the company's stock, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,234 shares of company stock worth $1,476,575. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primerica

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Primerica by 11.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,385 shares of the financial services provider's stock valued at $919,000 after purchasing an additional 354 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Primerica during the 4th quarter worth $2,921,000. Burgundy Asset Management Ltd. grew its stake in Primerica by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider's stock worth $349,717,000 after buying an additional 21,208 shares during the last quarter. Vise Technologies Inc. acquired a new stake in Primerica in the fourth quarter worth $368,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Primerica by 9.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,679 shares of the financial services provider's stock valued at $38,726,000 after buying an additional 11,737 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

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.