Primerica (NYSE:PRI) Shares Down 1.1% - What's Next?

Primerica, Inc. (NYSE:PRI - Get Free Report) shares fell 1.1% during mid-day trading on Monday . The stock traded as low as $268.12 and last traded at $268.61. 15,150 shares were traded during trading, a decline of 90% from the average session volume of 156,245 shares. The stock had previously closed at $271.50.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial lifted their price target on Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. TD Cowen upped their price target on shares of Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Piper Sandler dropped their price target 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. 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $296.33.

Primerica Stock Performance

The firm has a market capitalization of $9.02 billion, a PE ratio of 20.64 and a beta of 1.09. The stock's 50-day simple moving average is $287.49 and its 200-day simple moving average is $263.75.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the company earned $4.28 earnings per share. Primerica's quarterly revenue was up 11.0% on a year-over-year basis. As a group, analysts predict that Primerica, Inc. will post 19.32 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, November 21st. Primerica's dividend payout ratio is currently 27.50%.

Primerica declared that its Board of Directors has initiated a stock buyback 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 repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the sale, the chief executive officer now directly owns 36,322 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Primerica

Large investors have recently modified their holdings of the stock. CIBC Asset Management Inc grew its position in Primerica by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider's stock valued at $279,000 after purchasing an additional 36 shares during the last quarter. Creative Planning grew its holdings in shares of Primerica by 0.7% during the third quarter. Creative Planning now owns 6,083 shares of the financial services provider's stock valued at $1,613,000 after buying an additional 40 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Primerica by 0.7% during the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider's stock valued at $1,549,000 after buying an additional 43 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 54 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its holdings in Primerica by 1.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider's stock worth $1,484,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

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.