Primerica (NYSE:PRI) Shares Up 1.1% - What's Next?

Primerica, Inc. (NYSE:PRI - Get Free Report) shares traded up 1.1% on Friday . The stock traded as high as $292.52 and last traded at $292.02. 8,560 shares were traded during trading, a decline of 94% from the average session volume of 133,551 shares. The stock had previously closed at $288.74.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Piper Sandler decreased their target price on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Keefe, Bruyette & Woods cut their price objective on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a report on Friday, January 10th. StockNews.com upgraded shares of Primerica from a "hold" rating to a "buy" rating in a report on Tuesday. Truist Financial boosted their price target on shares of Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, TD Cowen upped their price target on shares of Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $303.00.

Primerica Stock Performance

The company has a market cap of $9.74 billion, a PE ratio of 22.30 and a beta of 1.11. The company has a 50 day simple moving average of $285.92 and a two-hundred day simple moving average of $269.21.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating analysts' consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. During the same period in the previous year, the firm posted $4.28 earnings per share. The firm's revenue was up 11.0% on a year-over-year basis. As a group, analysts expect that Primerica, Inc. will post 19.55 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.23%. Primerica's payout ratio is 27.50%.

Primerica declared that its Board of Directors has authorized a stock repurchase program on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On Primerica

A number of large investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its position in shares of Primerica by 26.6% in the second quarter. Commonwealth Equity Services LLC now owns 3,540 shares of the financial services provider's stock worth $838,000 after buying an additional 743 shares during the last quarter. American Century Companies Inc. lifted its holdings in Primerica by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 66,152 shares of the financial services provider's stock worth $15,650,000 after purchasing an additional 7,708 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Primerica by 18.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 3,181 shares of the financial services provider's stock worth $753,000 after purchasing an additional 497 shares during the period. Envestnet Asset Management Inc. grew its holdings in Primerica by 17.6% during the second quarter. Envestnet Asset Management Inc. now owns 72,827 shares of the financial services provider's stock valued at $17,229,000 after purchasing an additional 10,907 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Primerica by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider's stock valued at $150,880,000 after purchasing an additional 21,836 shares during the period. 90.88% of the stock is currently owned by 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.