Primerica (NYSE:PRI) Trading 0.5% Higher - What's Next?

Primerica, Inc. (NYSE:PRI - Get Free Report)'s share price traded up 0.5% on Wednesday . The stock traded as high as $282.51 and last traded at $282.51. 12,224 shares changed hands during trading, a decline of 92% from the average session volume of 152,114 shares. The stock had previously closed at $281.17.

Analyst Upgrades and Downgrades

PRI has been the topic of several research analyst reports. Truist Financial increased their price target on shares of Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, November 8th. StockNews.com raised shares of Primerica from a "hold" rating to a "buy" rating in a research note on Friday, November 22nd. Piper Sandler began coverage on shares of Primerica in a report on Friday, August 30th. They issued a "neutral" rating and a $283.00 price objective on the stock. TD Cowen increased their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, Morgan Stanley increased their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an "equal weight" rating in a report on Monday, August 19th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $293.50.

Primerica Stock Up 0.7 %

The business's fifty day moving average is $286.95 and its 200 day moving average is $260.54. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 21.58 and a beta of 1.09.

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

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica's dividend payout ratio (DPR) is currently 27.50%.

Primerica declared that its board has authorized a share repurchase plan on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. ORG Partners LLC bought a new position in shares of Primerica in the 2nd quarter valued at about $30,000. V Square Quantitative Management LLC bought a new stake in shares of Primerica during the 3rd quarter worth about $31,000. Prospera Private Wealth LLC bought a new stake in shares of Primerica during the 3rd quarter worth about $31,000. UMB Bank n.a. boosted its holdings in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock worth $38,000 after buying an additional 67 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock worth $39,000 after buying an additional 54 shares during the period. Institutional investors own 90.88% of the company's stock.

About Primerica

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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