Primerica (NYSE:PRI) Trading Up 0.7% - Time to Buy?

Primerica, Inc. (NYSE:PRI - Get Free Report) was up 0.7% during mid-day trading on Monday . The stock traded as high as $286.16 and last traded at $285.26. Approximately 39,096 shares changed hands during trading, a decline of 76% from the average daily volume of 163,602 shares. The stock had previously closed at $283.33.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler decreased their price target on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 18th. Morgan Stanley decreased their price target on Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price target for the company. StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods raised their target price on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $309.86.

Primerica Stock Performance

The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 20.01 and a beta of 1.12. The company has a 50-day simple moving average of $286.07 and a two-hundred day simple moving average of $282.49.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 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%. As a group, sell-side analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.51%. This is a boost from Primerica's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 21st. Primerica's payout ratio is 30.25%.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on 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 directly owns 33,322 shares of the company's stock, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock worth $1,476,575 over the last ninety days. Insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On Primerica

A number of hedge funds have recently bought and sold shares of PRI. Colonial Trust Co SC acquired a new position in shares of Primerica during the 4th quarter worth approximately $25,000. True Wealth Design LLC bought a new stake in shares of Primerica in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC acquired a new stake in Primerica during the fourth quarter worth approximately $33,000. EverSource Wealth Advisors LLC increased its stake in Primerica by 129.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock worth $34,000 after acquiring an additional 71 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in Primerica by 116.2% in the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock valued at $58,000 after acquiring an additional 115 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

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.