Primerica, Inc. (NYSE:PRI - Get Free Report) traded down 1% on Monday . The company traded as low as $280.30 and last traded at $281.29. 134,291 shares traded hands during trading, an increase of 7% from the average session volume of 125,765 shares. The stock had previously closed at $284.14.
Wall Street Analyst Weigh In
PRI has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research note on Tuesday. Morgan Stanley boosted their price objective on shares of Primerica from $308.00 to $313.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. TD Cowen boosted their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Truist Financial boosted their price objective 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. Finally, StockNews.com cut shares of Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Primerica presently has a consensus rating of "Hold" and a consensus target price of $311.14.
Check Out Our Latest Research Report on Primerica
Primerica Price Performance
The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 20.40 and a beta of 1.11. The firm's fifty day moving average is $281.95 and its 200-day moving average is $276.58.
Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, equities research analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.
Primerica Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.48%. This is a positive change from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio is currently 26.18%.
Primerica declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.
Insider Activity
In other news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.85% of the company's stock.
Hedge Funds Weigh In On Primerica
Several institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc raised its holdings in shares of Primerica by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider's stock worth $279,000 after acquiring an additional 36 shares during the last quarter. Mariner LLC raised its holdings in shares of Primerica by 1.4% in the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock worth $709,000 after acquiring an additional 36 shares during the last quarter. Creative Planning raised its holdings in shares of Primerica by 0.7% in the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider's stock worth $1,613,000 after acquiring an additional 40 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Primerica by 0.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider's stock worth $1,549,000 after acquiring an additional 43 shares during the last quarter. Finally, Dana Investment Advisors Inc. raised its holdings in shares of 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 acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.
Primerica Company Profile
(
Get Free Report)
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.
Read More
Before you consider Primerica, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Primerica wasn't on the list.
While Primerica currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.