Primerica (NYSE:PRI) Trading Up 0.1% Following Analyst Upgrade

Primerica, Inc. (NYSE:PRI - Get Free Report) shares rose 0.1% on Wednesday after Keefe, Bruyette & Woods raised their price target on the stock from $315.00 to $320.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Primerica traded as high as $283.44 and last traded at $282.47. Approximately 12,565 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 138,402 shares. The stock had previously closed at $282.26.

Several other research firms also recently weighed in on PRI. StockNews.com downgraded shares of Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Morgan Stanley lifted their price objective on shares of Primerica from $308.00 to $313.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Piper Sandler dropped their target price on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. Truist Financial lifted their price target on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, TD Cowen boosted their price objective on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Primerica currently has a consensus rating of "Hold" and an average target price of $311.14.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares of the company's stock, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.85% of the company's stock.

Institutional Trading of Primerica

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of Primerica in the fourth quarter worth approximately $34,191,000. AQR Capital Management LLC increased its holdings in shares of Primerica by 254.5% in the 4th quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider's stock worth $31,558,000 after buying an additional 83,477 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Primerica by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider's stock valued at $211,691,000 after buying an additional 82,921 shares in the last quarter. FIL Ltd lifted its holdings in shares of Primerica by 85.5% during the 4th quarter. FIL Ltd now owns 131,365 shares of the financial services provider's stock worth $35,655,000 after acquiring an additional 60,565 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Primerica by 2,508.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider's stock worth $15,606,000 after acquiring an additional 55,295 shares during the last quarter. Institutional investors own 90.88% of the company's stock.

Primerica Stock Down 2.3 %

The company has a market capitalization of $9.12 billion, a PE ratio of 19.88 and a beta of 1.11. The firm's 50-day moving average is $281.95 and its 200-day moving average is $276.58.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (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%. As a group, equities research analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be given a dividend of $1.04 per share. This is a boost from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, February 21st. Primerica's dividend payout ratio (DPR) is presently 26.18%.

Primerica announced that its Board of Directors has authorized a share buyback program on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

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.