Primerica (NYSE:PRI) Stock Price Down 0.4% - What's Next?

Primerica, Inc. (NYSE:PRI - Get Free Report) fell 0.4% during mid-day trading on Friday . The stock traded as low as $270.54 and last traded at $271.51. 6,762 shares changed hands during trading, a decline of 96% from the average session volume of 155,485 shares. The stock had previously closed at $272.51.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PRI. Piper Sandler reduced their price target on shares of 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 upped their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. TD Cowen upped their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, StockNews.com upgraded shares of Primerica from a "hold" rating to a "buy" rating in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $296.33.

Primerica Stock Performance

The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 20.67 and a beta of 1.09. The business's 50-day simple moving average is $286.99 and its 200-day simple moving average is $264.18.

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 analysts' consensus estimates of $4.81 by $0.87. The company had revenue of $774.13 million during the quarter, compared to analysts' expectations of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. Primerica's revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.28 EPS. On average, analysts forecast that Primerica, Inc. will post 19.32 earnings per share for the current year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.33%. Primerica's dividend payout ratio (DPR) is presently 27.50%.

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

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares of the company's stock, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is currently owned by company insiders.

Institutional Trading of Primerica

A number of large investors have recently bought and sold shares of PRI. Millennium Management LLC increased its stake in Primerica by 30,726.7% during the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider's stock worth $161,102,000 after purchasing an additional 678,752 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Primerica by 66.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider's stock worth $23,601,000 after purchasing an additional 39,761 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Primerica by 2,986.9% during the 2nd quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider's stock worth $7,595,000 after acquiring an additional 31,064 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Primerica during the 2nd quarter worth approximately $71,000. Finally, Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 25,951 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

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.