Primerica (NYSE:PRI) Shares Down 1.4% - Time to Sell?

Primerica, Inc. (NYSE:PRI - Get Free Report) shares fell 1.4% during mid-day trading on Tuesday . The company traded as low as $276.55 and last traded at $276.55. 29,343 shares were traded during trading, a decline of 81% from the average session volume of 152,194 shares. The stock had previously closed at $280.53.

Analysts Set New Price Targets

Several research analysts have weighed in on PRI shares. StockNews.com raised Primerica from a "hold" rating to a "buy" rating in a research report on Friday, November 22nd. Truist Financial increased their price objective on Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Morgan Stanley lifted their target price on shares of Primerica from $257.00 to $269.00 and gave the company an "equal weight" rating in a research note on Monday, August 19th. Piper Sandler assumed coverage on shares of Primerica in a research note on Friday, August 30th. They set a "neutral" rating and a $283.00 price target on the stock. Finally, TD Cowen raised their price target on shares of Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Primerica has a consensus rating of "Hold" and a consensus price target of $293.50.

Primerica Price Performance

The business has a 50 day moving average price of $288.00 and a 200 day moving average price of $262.17. The firm has a market capitalization of $9.21 billion, a P/E ratio of 21.13 and a beta of 1.09.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company 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 business posted $4.28 EPS. The company's revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts expect that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Announces Dividend

The company also recently announced 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. This represents a $3.60 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica's dividend payout ratio (DPR) is presently 27.50%.

Primerica announced that its board has initiated a share repurchase plan on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.85% of the company's stock.

Institutional Investors Weigh In On Primerica

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in Primerica in the third quarter worth about $31,000. Prospera Private Wealth LLC acquired a new stake in shares of Primerica during the 3rd quarter worth approximately $31,000. UMB Bank n.a. raised its stake in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock worth $38,000 after buying an additional 67 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after buying an additional 54 shares during the period. Finally, Blue Trust Inc. boosted its stake in Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 60 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.