Primerica (NYSE:PRI) Shares Up 0.8% - Here's What Happened

Primerica, Inc. (NYSE:PRI - Get Free Report) shot up 0.8% during mid-day trading on Thursday . The company traded as high as $293.58 and last traded at $292.56. 19,332 shares were traded during trading, a decline of 88% from the average session volume of 155,093 shares. The stock had previously closed at $290.19.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PRI. Piper Sandler cut their price target on Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a report on Wednesday, December 18th. BMO Capital Markets began coverage on Primerica in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 target price for the company. StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods lifted their price target on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Finally, Morgan Stanley dropped their price objective on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. 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.com, the company currently has an average rating of "Hold" and an average price target of $309.86.

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Primerica Stock Performance

The company has a market capitalization of $9.42 billion, a PE ratio of 20.61 and a beta of 1.12. The business has a fifty day moving average price of $286.37 and a 200 day moving average price of $281.75.

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 net margin of 15.14% and a return on equity of 31.11%. Research analysts forecast 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. Investors of record on Friday, February 21st were issued a dividend of $1.04 per share. This is a positive change from Primerica's previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.47%. Primerica's payout ratio is presently 30.25%.

Insider Buying and Selling

In other news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the sale, the president now owns 13,301 shares in the company, valued at $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the transaction, the chief executive officer now owns 33,322 shares of the company's stock, valued at $9,388,140.28. This trade represents a 8.26 % 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 valued at $1,476,575. Company insiders own 0.85% of the company's stock.

Institutional Investors Weigh In On Primerica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mariner LLC grew its stake in shares of Primerica by 1.4% during the fourth quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock valued at $709,000 after acquiring an additional 36 shares in the last quarter. Dana Investment Advisors Inc. grew its stake in Primerica by 1.2% during the 4th quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider's stock valued at $1,012,000 after purchasing an additional 45 shares in the last quarter. Larson Financial Group LLC grew its stake in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 54 shares in the last quarter. CIBC Asset Management Inc increased its holdings 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 purchasing an additional 54 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Primerica by 3.9% in the 4th quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider's stock valued at $412,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other 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.