Primerica (NYSE:PRI) Stock Price Down 0.1% - What's Next?

Primerica, Inc. (NYSE:PRI - Get Free Report)'s stock price dropped 0.1% during trading on Friday . The company traded as low as $277.85 and last traded at $278.60. Approximately 10,291 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 137,753 shares. The stock had previously closed at $278.88.

Wall Street Analyst Weigh In

PRI has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price objective on Primerica from $308.00 to $313.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods lifted their price objective on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Tuesday. BMO Capital Markets initiated coverage on Primerica in a research report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price target for the company. StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Finally, TD Cowen boosted their price target on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $311.14.

Primerica Stock Performance

The business has a fifty day moving average of $281.95 and a 200-day moving average of $276.58. The firm has a market capitalization of $9.12 billion, a P/E ratio of 19.88 and a beta of 1.11.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts' consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, equities research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be paid a $1.04 dividend. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.52%. Primerica's dividend payout ratio is 26.18%.

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

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.85% of the company's stock.

Institutional Investors Weigh In On Primerica

A number of institutional investors have recently added to or reduced their stakes in the stock. Colonial Trust Co SC bought a new position in Primerica in the 4th quarter worth approximately $25,000. True Wealth Design LLC acquired a new position in Primerica in the 4th quarter worth $27,000. Prospera Private Wealth LLC acquired a new position in Primerica in the 3rd quarter worth $31,000. Golden State Wealth Management LLC acquired a new position in shares of Primerica during the 4th quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Primerica by 129.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock worth $34,000 after buying an additional 71 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

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.