Primerica (NYSE:PRI) Trading 0.6% Higher - Should You Buy?

Primerica, Inc. (NYSE:PRI - Get Free Report)'s share price rose 0.6% during mid-day trading on Thursday . The company traded as high as $291.26 and last traded at $291.25. Approximately 14,054 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 153,744 shares. The stock had previously closed at $289.39.

Analysts Set New Price Targets

PRI has been the topic of a number of analyst reports. Piper Sandler decreased their target price on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price objective on the stock. Morgan Stanley dropped their target price on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods boosted their price objective on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $309.86.

Primerica Stock Performance

The business has a 50-day simple moving average of $285.85 and a 200 day simple moving average of $280.60. The firm has a market cap of $9.48 billion, a P/E ratio of 20.73 and a beta of 1.12.

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Primerica (NYSE:PRI - Get Free Report) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating 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, research analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.46%. This is a boost from Primerica's previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. Primerica's dividend payout ratio (DPR) is currently 30.25%.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the transaction, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction 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. In the last 90 days, insiders have sold 5,234 shares of company stock valued at $1,476,575. Corporate insiders own 0.85% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Burgundy Asset Management Ltd. increased its stake in shares of Primerica by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider's stock valued at $349,717,000 after purchasing an additional 21,208 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Primerica by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider's stock worth $211,691,000 after buying an additional 82,921 shares during the last quarter. Northern Trust Corp increased its position in Primerica by 15.6% during the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider's stock valued at $94,194,000 after buying an additional 46,935 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in Primerica by 1.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 230,736 shares of the financial services provider's stock valued at $62,626,000 after buying an additional 2,905 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Primerica by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 159,774 shares of the financial services provider's stock worth $43,366,000 after acquiring an additional 1,484 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

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.