Primerica (NYSE:PRI) Trading Down 2.7% - Here's What Happened

Primerica, Inc. (NYSE:PRI - Get Free Report)'s stock price fell 2.7% during trading on Monday . The stock traded as low as $287.23 and last traded at $287.52. 14,497 shares were traded during trading, a decline of 90% from the average session volume of 152,305 shares. The stock had previously closed at $295.59.

Analyst Ratings Changes

PRI has been the subject of several recent research reports. 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. StockNews.com raised Primerica from a "hold" rating to a "buy" rating in a research note on Friday, November 22nd. Morgan Stanley lifted their price objective on Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research note on Monday, August 19th. Piper Sandler began coverage on shares of Primerica in a research report on Friday, August 30th. They set a "neutral" rating and a $283.00 target price for the company. Finally, Truist Financial upped their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Primerica currently has a consensus rating of "Hold" and an average price target of $293.50.

Primerica Trading Down 2.8 %

The firm has a market capitalization of $9.58 billion, a P/E ratio of 21.96 and a beta of 1.09. The stock's 50-day simple moving average is $286.19 and its 200-day simple moving average is $259.73.

Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $745.25 million. During the same period in the previous year, the business posted $4.28 EPS. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.25%. Primerica's dividend payout ratio (DPR) is currently 27.50%.

Primerica declared that its Board of Directors has authorized a share repurchase program on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase 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.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the transaction, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. This trade represents a 11.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On Primerica

Hedge funds and other institutional investors have recently modified their holdings of the stock. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Primerica during the 3rd quarter valued at $3,710,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Primerica during the third quarter valued at about $646,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Primerica during the second quarter worth about $3,514,000. SG Americas Securities LLC bought a new stake in shares of Primerica in the second quarter worth about $893,000. Finally, International Assets Investment Management LLC increased its holdings in Primerica by 359,742.9% during the 3rd quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider's stock valued at $6,679,000 after purchasing an additional 25,182 shares during the period. 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.

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