Primerica (NYSE:PRI) Trading 0.4% Higher - Still a Buy?

Primerica, Inc. (NYSE:PRI - Get Free Report)'s share price rose 0.4% during mid-day trading on Friday . The company traded as high as $286.67 and last traded at $285.49. Approximately 19,754 shares traded hands during trading, a decline of 86% from the average daily volume of 137,693 shares. The stock had previously closed at $284.31.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. BMO Capital Markets assumed 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 for the company. Keefe, Bruyette & Woods raised their price target on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Morgan Stanley lowered their price target on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a report on Friday. Finally, Truist Financial lifted their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Primerica currently has a consensus rating of "Hold" and an average target price of $309.86.

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Primerica Stock Performance

The business has a 50 day moving average of $282.64 and a two-hundred day moving average of $278.28. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 21.00 and a beta of 1.11.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, equities analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be given a dividend of $1.04 per share. The ex-dividend date is Friday, February 21st. This is an increase from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 1.44%. Primerica's payout ratio is presently 30.25%.

Primerica declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm'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 directly owns 33,322 shares of the company's stock, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.85% of the company's stock.

Hedge Funds Weigh In On Primerica

Several hedge funds have recently modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in shares of Primerica by 78.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,960 shares of the financial services provider's stock valued at $512,000 after acquiring an additional 862 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Primerica by 2.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 10,243 shares of the financial services provider's stock valued at $2,716,000 after purchasing an additional 292 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Primerica by 8.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 9,966 shares of the financial services provider's stock worth $2,642,000 after purchasing an additional 817 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Primerica by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 21,646 shares of the financial services provider's stock worth $5,998,000 after buying an additional 6,185 shares during the last quarter. Finally, Assetmark Inc. grew its position in Primerica by 11.8% during the third quarter. Assetmark Inc. now owns 1,461 shares of the financial services provider's stock valued at $387,000 after buying an additional 154 shares during the period. 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.