Primerica (NYSE:PRI) Trading Up 0.4% - Here's Why

Primerica, Inc. (NYSE:PRI - Get Free Report) was up 0.4% during mid-day trading on Monday . The stock traded as high as $273.95 and last traded at $272.39. Approximately 18,379 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 132,506 shares. The stock had previously closed at $271.41.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Truist Financial increased their target price on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a report on Friday, November 8th. Piper Sandler dropped their price objective on Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research report on Wednesday, December 18th. TD Cowen raised their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods decreased their target price on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research report on Friday. Finally, StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Primerica has an average rating of "Hold" and a consensus price target of $303.00.

Primerica Price Performance

The stock has a market cap of $9.15 billion, a PE ratio of 20.94 and a beta of 1.11. The stock has a 50-day simple moving average of $286.13 and a 200-day simple moving average of $268.26.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.87. The company had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. Primerica's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $4.28 earnings per share. As a group, equities research analysts anticipate that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Thursday, November 21st. Primerica's payout ratio is currently 27.50%.

Primerica declared that its Board of Directors has initiated a share buyback program on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares of the company's stock, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in shares of Primerica in the third quarter worth $31,000. Prospera Private Wealth LLC acquired a new position in shares of Primerica in the 3rd quarter valued at about $31,000. UMB Bank n.a. lifted its position in shares of Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock worth $38,000 after purchasing an additional 67 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock worth $39,000 after purchasing an additional 54 shares during the period. Finally, Quarry LP grew its position in Primerica by 629.2% during the third quarter. Quarry LP now owns 350 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 302 shares in the last quarter. Institutional investors own 90.88% of the company's stock.

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.