Primerica (NYSE:PRI) Trading Up 0.7% - Should You Buy?

Primerica, Inc. (NYSE:PRI - Get Free Report) shares rose 0.7% during mid-day trading on Tuesday . The stock traded as high as $294.88 and last traded at $294.04. Approximately 14,006 shares traded hands during trading, a decline of 91% from the average daily volume of 154,810 shares. The stock had previously closed at $292.04.

Analyst Ratings Changes

A number of brokerages have recently commented on PRI. Piper Sandler cut their target price on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 18th. BMO Capital Markets assumed coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price target on the stock. Keefe, Bruyette & Woods raised their target price on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. Morgan Stanley cut their price target on Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Finally, StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Primerica currently has a consensus rating of "Hold" and a consensus target price of $309.86.

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Primerica Stock Performance

The firm has a market capitalization of $9.44 billion, a P/E ratio of 20.64 and a beta of 1.12. The stock has a fifty day moving average price of $286.54 and a two-hundred day moving average price of $281.35.

Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a $1.04 dividend. The ex-dividend date was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.47%. This is a boost from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio (DPR) is currently 30.25%.

Insider Buying and Selling at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now owns 200 shares of the company's stock, valued at $56,030. This trade represents a 53.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now directly owns 13,301 shares of the company's stock, valued at $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock worth $1,476,575 over the last ninety days. Company insiders own 0.85% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Mariner LLC grew its position in Primerica by 1.4% during the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock worth $709,000 after purchasing an additional 36 shares in the last quarter. Dana Investment Advisors Inc. raised its position in Primerica by 1.2% during the fourth quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider's stock valued at $1,012,000 after buying an additional 45 shares during the period. Larson Financial Group LLC boosted its position in 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 acquiring an additional 54 shares during the period. CIBC Asset Management Inc boosted its position in Primerica by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider's stock worth $301,000 after acquiring an additional 54 shares during the period. Finally, Assetmark Inc. lifted its position in shares of Primerica by 3.9% in the fourth quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider's stock worth $412,000 after purchasing an additional 57 shares in the last quarter. 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.