Primerica, Inc. (NYSE:PRI - Get Free Report) shares rose 0.9% during mid-day trading on Friday . The company traded as high as $270.82 and last traded at $269.30. Approximately 25,578 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 153,424 shares. The stock had previously closed at $266.84.
Analyst Ratings Changes
Several research firms recently commented on PRI. Piper Sandler cut their target price on Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research report on Wednesday. TD Cowen lifted their price objective on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. StockNews.com raised shares of Primerica from a "hold" rating to a "buy" rating in a report on Friday, November 22nd. Finally, Truist Financial increased their target price 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $296.33.
Read Our Latest Research Report on PRI
Primerica Price Performance
The stock has a 50 day moving average price of $287.74 and a two-hundred day moving average price of $262.59. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 20.74 and a beta of 1.09.
Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm had revenue of $774.13 million during the quarter, compared to analysts' expectations of $745.25 million. During the same quarter last year, the company posted $4.28 EPS. The company's quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that Primerica, Inc. will post 19.32 EPS for the current fiscal year.
Primerica Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica's dividend payout ratio is 27.50%.
Primerica announced that its board has approved a stock buyback plan on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.
Insider Transactions at Primerica
In other news, CEO Glenn J. Williams sold 3,000 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Primerica
A number of institutional investors and hedge funds have recently modified their holdings of PRI. Forthright Family Wealth Advisory LLC acquired a new stake in Primerica during the 3rd quarter worth $202,000. Wilmington Savings Fund Society FSB bought a new position in shares of Primerica during the third quarter worth $336,000. Sanctuary Advisors LLC grew its holdings in shares of Primerica by 21.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 5,632 shares of the financial services provider's stock valued at $1,493,000 after buying an additional 990 shares during the period. SkyView Investment Advisors LLC increased its position in shares of Primerica by 2.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 6,408 shares of the financial services provider's stock valued at $1,699,000 after buying an additional 137 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its stake in Primerica by 52.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 365 shares of the financial services provider's stock worth $97,000 after buying an additional 126 shares during the period. 90.88% of the stock is owned by institutional investors.
Primerica Company Profile
(
Get Free Report)
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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