Primerica (NYSE:PRI) Shares Up 1.6% - Here's Why

Primerica, Inc. (NYSE:PRI - Get Free Report) rose 1.6% on Friday . The company traded as high as $281.64 and last traded at $281.19. Approximately 13,817 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 141,266 shares. The stock had previously closed at $276.70.

Analyst Ratings Changes

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

Remove Ads

Primerica Trading Up 1.4 %

The firm has a fifty day simple moving average of $284.60 and a 200-day simple moving average of $279.81. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 21.02 and a beta of 1.12.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data 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%. On average, equities analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a $1.04 dividend. This is a positive change from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, February 21st. Primerica's dividend payout ratio is currently 30.25%.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now directly owns 200 shares in the company, valued at $56,030. The trade was a 53.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,234 shares of company stock worth $1,476,575. Insiders own 0.85% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Colonial Trust Co SC acquired a new stake in shares of Primerica during the fourth quarter worth about $25,000. True Wealth Design LLC bought a new stake in Primerica during the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC acquired a new stake in Primerica during the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC bought a new position in Primerica in the fourth quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock valued at $34,000 after buying an additional 71 shares in the last quarter. 90.88% of the stock is currently 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.