Primerica (NYSE:PRI) Stock Price Down 4.7% - Should You Sell?

Primerica, Inc. (NYSE:PRI - Get Free Report)'s share price dropped 4.7% during trading on Thursday . The stock traded as low as $276.82 and last traded at $276.96. Approximately 53,676 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 165,389 shares. The stock had previously closed at $290.62.

Analyst Upgrades and Downgrades

PRI has been the topic of several recent research reports. Piper Sandler decreased their price objective on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Keefe, Bruyette & Woods lifted their price objective on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Tuesday, February 18th. StockNews.com cut Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Morgan Stanley cut their price target on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Finally, BMO Capital Markets assumed 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. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $309.86.

Primerica Price Performance

The business's 50 day simple moving average is $284.91 and its 200-day simple moving average is $282.75. The stock has a market capitalization of $8.12 billion, a P/E ratio of 17.84 and a beta of 1.03.

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

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio is presently 30.25%.

Insiders Place Their Bets

In related news, President Peter W. Schneider sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the sale, the president now owns 13,301 shares of the company's stock, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,234 shares of company stock worth $1,476,575. Company insiders own 0.85% of the company's stock.

Hedge Funds Weigh In On Primerica

Several institutional investors and hedge funds have recently modified their holdings of PRI. GAMMA Investing LLC lifted its stake in Primerica by 39,199.5% in the first quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock valued at $126,132,000 after buying an additional 442,170 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Primerica by 320.8% during the first quarter. Versant Capital Management Inc now owns 425 shares of the financial services provider's stock worth $121,000 after acquiring an additional 324 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Primerica by 11.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,385 shares of the financial services provider's stock valued at $919,000 after acquiring an additional 354 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Primerica in the 4th quarter worth $2,921,000. Finally, Burgundy Asset Management Ltd. increased its holdings 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 purchasing an additional 21,208 shares in the last quarter. 90.88% of the stock is currently 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.