Primerica, Inc. (NYSE:PRI - Get Free Report) dropped 1.2% on Friday . The company traded as low as $284.46 and last traded at $285.41. Approximately 43,268 shares traded hands during trading, a decline of 72% from the average daily volume of 154,054 shares. The stock had previously closed at $288.89.
Wall Street Analyst Weigh In
PRI has been the subject of several analyst reports. Morgan Stanley cut their price objective on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Piper Sandler cut their price target on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a report on Wednesday, December 18th. TD Cowen lifted their target price 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. StockNews.com downgraded shares of Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Finally, BMO Capital Markets initiated coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $309.86.
Check Out Our Latest Stock Report on Primerica
Primerica Trading Up 2.1 %
The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 21.12 and a beta of 1.12. The stock's fifty day moving average price is $285.85 and its 200-day moving average price is $280.74.
Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.
Primerica Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a dividend of $1.04 per share. This is a positive change from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, February 21st. Primerica's dividend payout ratio (DPR) is currently 30.25%.
Insider Transactions at Primerica
In other news, insider Nicholas Adam Jendusa sold 234 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the sale, the insider now owns 200 shares of the company's stock, valued at approximately $56,030. This represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is currently owned by corporate insiders.
Institutional Trading of Primerica
A number of hedge funds and other institutional investors have recently bought and sold shares of PRI. GSA Capital Partners LLP acquired a new stake in Primerica during the 3rd quarter worth $228,000. Advisors Asset Management Inc. increased its position in shares of Primerica by 187.1% during the third quarter. Advisors Asset Management Inc. now owns 643 shares of the financial services provider's stock worth $170,000 after purchasing an additional 419 shares in the last quarter. Great Valley Advisor Group Inc. purchased a new stake in shares of Primerica in the 3rd quarter valued at about $398,000. Kingsview Wealth Management LLC lifted 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 valued at $1,549,000 after purchasing an additional 43 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Primerica in the 3rd quarter valued at about $983,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.
About Primerica
(
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.
Featured Stories
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
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
