Primerica (NYSE:PRI) Stock Price Down 1.3% - Time to Sell?

Shares of Primerica, Inc. (NYSE:PRI - Get Free Report) fell 1.3% during mid-day trading on Tuesday . The stock traded as low as $277.46 and last traded at $283.53. 23,731 shares changed hands during trading, a decline of 84% from the average session volume of 152,140 shares. The stock had previously closed at $287.15.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PRI. Piper Sandler initiated coverage on shares of Primerica in a research note on Friday, August 30th. They set a "neutral" rating and a $283.00 target price on the stock. 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. Morgan Stanley upped their price target on shares of Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research report on Monday, August 19th. StockNews.com upgraded shares of Primerica from a "hold" rating to a "buy" rating in a research report on Friday, November 22nd. Finally, 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. Five 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, Primerica presently has an average rating of "Hold" and an average target price of $293.50.

Primerica Trading Down 2.0 %

The company has a market cap of $9.39 billion, a price-to-earnings ratio of 21.66 and a beta of 1.09. The stock's fifty day simple moving average is $286.64 and its 200 day simple moving average is $260.16.

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, topping analysts' consensus estimates of $4.81 by $0.87. The business had revenue of $774.13 million during 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 business's revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.28 EPS. On average, analysts predict that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.28%. Primerica's dividend payout ratio is currently 27.50%.

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

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares of the company's stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Primerica

A number of hedge funds have recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Primerica in the 3rd quarter valued at approximately $3,710,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Primerica in the 3rd quarter valued at approximately $646,000. BNP Paribas Financial Markets boosted its position in Primerica by 320.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider's stock valued at $1,525,000 after buying an additional 4,383 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Primerica in the 2nd quarter valued at approximately $3,514,000. Finally, SG Americas Securities LLC purchased a new position in Primerica in the 2nd quarter valued at approximately $893,000. Hedge funds and other institutional investors own 90.88% of the company's stock.

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.

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