Primerica (NYSE:PRI) Trading Up 1.6% - What's Next?

Primerica, Inc. (NYSE:PRI - Get Free Report) was up 1.6% on Monday . The stock traded as high as $292.61 and last traded at $290.05. Approximately 36,107 shares traded hands during trading, a decline of 74% from the average daily volume of 141,042 shares. The stock had previously closed at $285.37.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PRI. TD Cowen increased their price target on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. BMO Capital Markets began coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 target price on the stock. 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, February 28th. Piper Sandler reduced their price objective on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods boosted their target price 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. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Primerica presently has an average rating of "Hold" and an average target price of $309.86.

Primerica Stock Performance

The company has a market cap of $9.60 billion, a PE ratio of 20.99 and a beta of 1.12. The stock's 50-day simple moving average is $285.57 and its 200 day simple moving average is $280.31.

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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, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, sell-side analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently announced 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 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 presently 30.25%.

Insider Activity

In other news, insider Nicholas Adam Jendusa sold 234 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the sale, the president now owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,234 shares of company stock worth $1,476,575. Company insiders own 0.85% of the company's stock.

Hedge Funds Weigh In On Primerica

Several hedge funds have recently added to or reduced their stakes in PRI. Geode Capital Management LLC grew its position in shares of Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider's stock valued at $184,807,000 after purchasing an additional 25,951 shares during the last quarter. Barclays PLC grew its holdings in Primerica by 108.1% during the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock valued at $5,428,000 after buying an additional 10,635 shares during the last quarter. Sylvest Advisors LLC purchased a new position in Primerica during the fourth quarter worth $543,000. Oak Thistle LLC raised its holdings in shares of Primerica by 64.9% in the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider's stock worth $1,340,000 after acquiring an additional 1,943 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Primerica by 10.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider's stock valued at $32,573,000 after acquiring an additional 11,612 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other 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.