Primerica (NYSE:PRI) Stock Price Down 0.3% After Analyst Downgrade

Primerica, Inc. (NYSE:PRI - Get Free Report) dropped 0.3% during mid-day trading on Wednesday after Piper Sandler lowered their price target on the stock from $313.00 to $300.00. Piper Sandler currently has a neutral rating on the stock. Primerica traded as low as $273.07 and last traded at $274.73. Approximately 41,039 shares changed hands during trading, a decline of 73% from the average daily volume of 152,361 shares. The stock had previously closed at $275.64.

Several other equities analysts also recently weighed in on the company. Truist Financial lifted their target price on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, November 8th. TD Cowen raised their price target on shares of Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, StockNews.com upgraded Primerica from a "hold" rating to a "buy" rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $296.33.

Insider Activity

In other Primerica 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 transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.85% of the company's stock.

Institutional Investors Weigh In On Primerica

A number of institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new position in Primerica in the third quarter valued at $31,000. Prospera Private Wealth LLC purchased a new position in shares of Primerica in the 3rd quarter valued at $31,000. UMB Bank n.a. lifted its holdings in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 67 shares in the last quarter. Larson Financial Group LLC boosted its position in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock worth $39,000 after purchasing an additional 54 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Primerica by 45.5% during the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider's stock worth $49,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Stock Performance

The firm has a market capitalization of $8.91 billion, a PE ratio of 20.40 and a beta of 1.09. The firm has a fifty day moving average of $288.12 and a 200 day moving average of $262.53.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.28 EPS. Research analysts forecast that Primerica, Inc. will post 19.32 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.35%. Primerica's dividend payout ratio is presently 27.50%.

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

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.