Primerica (NYSE:PRI) Trading 1.1% Higher - Still a Buy?

Shares of Primerica, Inc. (NYSE:PRI - Get Free Report) traded up 1.1% during mid-day trading on Monday . The company traded as high as $292.84 and last traded at $291.93. 108,513 shares changed hands during trading, a decline of 35% from the average session volume of 166,520 shares. The stock had previously closed at $288.74.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler decreased their price target on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Truist Financial lifted their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. StockNews.com raised shares of Primerica from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. TD Cowen upped their target price on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods reduced their price target on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a report on Friday, January 10th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Primerica currently has an average rating of "Hold" and a consensus target price of $303.00.

Primerica Stock Up 1.1 %

The firm has a 50 day moving average of $285.75 and a 200-day moving average of $270.06. The company has a market cap of $9.74 billion, a P/E ratio of 22.30 and a beta of 1.11.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million for the quarter, compared to analyst estimates of $745.25 million. During the same quarter last year, the firm posted $4.28 earnings per share. The business's revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts predict that Primerica, Inc. will post 19.55 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a $0.90 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.23%. Primerica's payout ratio is presently 27.50%.

Primerica declared that its Board of Directors has approved a share repurchase 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 reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares of the company's stock, valued at $10,942,728.94. The trade was a 7.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Primerica

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider's stock worth $184,807,000 after buying an additional 25,951 shares during the last quarter. Barclays PLC grew its stake in shares of Primerica by 108.1% during the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock worth $5,428,000 after acquiring an additional 10,635 shares during the last quarter. Oak Thistle LLC increased its holdings in shares of Primerica by 64.9% during the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider's stock valued at $1,340,000 after acquiring an additional 1,943 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Primerica in the 3rd quarter valued at approximately $3,710,000. Finally, BNP Paribas Financial Markets boosted its stake in Primerica by 320.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider's stock worth $1,525,000 after purchasing an additional 4,383 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.