Primerica, Inc. (NYSE:PRI - Get Free Report) fell 0.1% during trading on Tuesday . The company traded as low as $290.99 and last traded at $292.75. 18,668 shares changed hands during trading, a decline of 86% from the average session volume of 131,910 shares. The stock had previously closed at $293.16.
Wall Street Analysts Forecast Growth
A number of research firms have commented on PRI. Keefe, Bruyette & Woods cut their target price on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research report on Friday, January 10th. 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 report on Wednesday, December 18th. Truist Financial raised their target price on shares of Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, November 8th. TD Cowen raised their target price 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. Finally, Morgan Stanley raised their target price on shares of Primerica from $308.00 to $313.00 and gave the company an "equal weight" rating in a research report on Friday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $310.43.
Read Our Latest Stock Report on Primerica
Primerica Stock Performance
The business's 50 day moving average is $282.45 and its 200 day moving average is $275.52. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 21.49 and a beta of 1.11.
Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping analysts' consensus estimates of $4.81 by $0.22. Primerica had a net margin of 14.95% and a return on equity of 30.93%. Sell-side analysts predict that Primerica, Inc. will post 19.79 EPS for the current year.
Primerica Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 a boost from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.48%. Primerica's dividend payout ratio (DPR) is 30.25%.
Primerica announced that its board has approved a share repurchase program on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.
Institutional Trading of Primerica
A number of institutional investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV boosted its stake in Primerica by 30.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,164 shares of the financial services provider's stock worth $316,000 after purchasing an additional 269 shares in the last quarter. Comerica Bank lifted its stake in Primerica by 4.4% during the 4th quarter. Comerica Bank now owns 30,606 shares of the financial services provider's stock valued at $8,307,000 after acquiring an additional 1,303 shares during the period. Schonfeld Strategic Advisors LLC lifted its stake in Primerica by 129.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,182 shares of the financial services provider's stock valued at $1,678,000 after acquiring an additional 3,490 shares during the period. AQR Capital Management LLC lifted its stake in Primerica by 254.5% during the 4th quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider's stock valued at $31,558,000 after acquiring an additional 83,477 shares during the period. Finally, Northern Trust Corp lifted its stake in Primerica by 15.6% during the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider's stock valued at $94,194,000 after acquiring an additional 46,935 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.
Primerica Company Profile
(
Get Free Report)
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.
See Also
Before you consider Primerica, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Primerica wasn't on the list.
While Primerica currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
