Primerica (NYSE:PRI) Trading 0.1% Higher - Here's Why

Primerica, Inc. (NYSE:PRI - Get Free Report) shares rose 0.1% during mid-day trading on Wednesday . The company traded as high as $288.05 and last traded at $282.77. Approximately 15,854 shares traded hands during trading, a decline of 88% from the average daily volume of 135,889 shares. The stock had previously closed at $282.56.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research note on Friday, January 10th. Truist Financial upped their target price 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. StockNews.com raised shares of Primerica from a "hold" rating to a "buy" rating in a research note on Tuesday. TD Cowen increased their price objective on Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Finally, Piper Sandler reduced their price objective on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $303.00.

Primerica Price Performance

The company has a market cap of $9.45 billion, a PE ratio of 21.63 and a beta of 1.11. The business has a fifty day simple moving average of $286.08 and a two-hundred day simple moving average of $268.69.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping analysts' consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million during the quarter, compared to analysts' expectations of $745.25 million. During the same period in the prior year, the business posted $4.28 EPS. The firm's quarterly revenue was up 11.0% on a year-over-year basis. On average, equities research 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 was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Thursday, November 21st. Primerica's dividend payout ratio is currently 27.50%.

Primerica declared that its board has approved a stock repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares of the company's stock, valued at $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primerica

A number of large investors have recently modified their holdings of the business. CIBC Asset Management Inc boosted its stake in 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 purchasing an additional 36 shares in the last quarter. Creative Planning raised its holdings in shares of Primerica by 0.7% in the third quarter. Creative Planning now owns 6,083 shares of the financial services provider's stock worth $1,613,000 after buying an additional 40 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake 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 worth $1,549,000 after buying an additional 43 shares during the period. Larson Financial Group LLC grew its holdings 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 buying an additional 54 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its holdings in shares of Primerica by 1.0% during the second quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider's stock valued at $1,484,000 after buying an additional 62 shares during the last quarter. 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.