Primerica (NYSE:PRI) Stock Price Down 0.1% - Time to Sell?

Primerica, Inc. (NYSE:PRI - Get Free Report) was down 0.1% during mid-day trading on Thursday . The stock traded as low as $294.67 and last traded at $295.56. Approximately 11,291 shares traded hands during trading, a decline of 91% from the average daily volume of 131,936 shares. The stock had previously closed at $295.85.

Wall Street Analysts Forecast Growth

PRI has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Primerica from a "buy" rating to a "hold" rating in a research report on Thursday, January 30th. Piper Sandler lowered 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. Truist Financial raised their target price on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, November 8th. BMO Capital Markets initiated coverage on Primerica in a research note on Thursday, January 23rd. They set a "market perform" rating and a $311.00 target price on the stock. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $304.14.

Primerica Stock Performance

The stock has a market capitalization of $9.89 billion, a P/E ratio of 22.63 and a beta of 1.11. The stock's fifty day simple moving average is $283.65 and its two-hundred day simple moving average is $274.01.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company had revenue of $774.13 million for the quarter, compared to analysts' expectations of $745.25 million. During the same quarter in the prior year, the firm earned $4.28 EPS. The business's revenue was up 11.0% on a year-over-year basis. As a group, analysts expect that Primerica, Inc. will post 19.79 earnings per share for the current fiscal year.

Primerica declared that its board has authorized a stock repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction 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 sale, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Primerica

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of Primerica in the fourth quarter worth $34,191,000. Dana Investment Advisors Inc. boosted its stake in Primerica by 1.2% in the 4th quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider's stock worth $1,012,000 after purchasing an additional 45 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Primerica during the 4th quarter valued at about $5,866,000. Atria Investments Inc increased its stake in Primerica by 8.8% in the 4th quarter. Atria Investments Inc now owns 9,735 shares of the financial services provider's stock worth $2,642,000 after acquiring an additional 785 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Primerica by 3.9% in the 4th quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider's stock worth $412,000 after purchasing an additional 57 shares during the period. 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.