Primerica (NYSE:PRI) Trading 0.3% Higher - Should You Buy?

Primerica, Inc. (NYSE:PRI - Get Free Report) traded up 0.3% on Monday . The stock traded as high as $281.16 and last traded at $281.74. 24,789 shares changed hands during trading, a decline of 82% from the average session volume of 139,694 shares. The stock had previously closed at $281.03.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BMO Capital Markets initiated coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price target for the company. TD Cowen upped their target price on shares of Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th. Piper Sandler cut their price objective on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research report on Wednesday, December 18th. Finally, Morgan Stanley decreased their target price on Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Primerica currently has a consensus rating of "Hold" and a consensus target price of $309.86.

Primerica Stock Down 0.1 %

The stock has a market capitalization of $9.22 billion, a PE ratio of 20.17 and a beta of 1.12. The stock's 50 day moving average price is $284.19 and its 200-day moving average price is $279.40.

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Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings results 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%. On average, analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio (DPR) is 30.25%.

Primerica declared that its board has authorized a stock 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 repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Primerica

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares of the company's stock, valued at $56,030. This represents a 53.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now owns 13,301 shares of the company's stock, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock valued at $1,476,575 in the last three months. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primerica

Several large investors have recently added to or reduced their stakes in the stock. Colonial Trust Co SC purchased a new position in shares of Primerica during the 4th quarter worth about $25,000. True Wealth Design LLC bought a new stake in shares of Primerica in the fourth quarter valued at about $27,000. Prospera Private Wealth LLC purchased a new stake in shares of Primerica in the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC purchased a new stake in Primerica during the fourth quarter worth $33,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock worth $34,000 after buying an additional 71 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Company Profile

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.