Primerica, Inc. (NYSE:PRI - Get Free Report)'s stock price fell 4.4% during trading on Wednesday . The company traded as low as $270.67 and last traded at $277.42. 47,034 shares were traded during trading, a decline of 65% from the average session volume of 134,845 shares. The stock had previously closed at $290.14.
Analysts Set New Price Targets
A number of brokerages have recently commented on PRI. Morgan Stanley increased 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. TD Cowen boosted their target price on shares of Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. BMO Capital Markets initiated coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a "market perform" rating and a $311.00 target price on the stock. Truist Financial boosted their target price 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. Finally, StockNews.com downgraded shares of Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $310.43.
Check Out Our Latest Stock Analysis on PRI
Primerica Stock Down 1.0 %
The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 21.49 and a beta of 1.11. The stock's 50 day moving average price is $282.17 and its two-hundred day moving average price is $275.91.
Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share 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%. On average, equities analysts expect that Primerica, Inc. will post 19.79 EPS for the current fiscal year.
Primerica Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued 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 is currently 27.50%.
Primerica announced that its Board of Directors has initiated a share buyback program on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.
Institutional Investors Weigh In On Primerica
A number of large investors have recently bought and sold shares of PRI. Raymond James Financial Inc. bought a new stake in Primerica in the fourth quarter worth $34,191,000. AQR Capital Management LLC boosted its holdings in Primerica by 254.5% during the fourth 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. Geode Capital Management LLC boosted its holdings in Primerica by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider's stock valued at $211,691,000 after acquiring an additional 82,921 shares during the period. FIL Ltd boosted its holdings in Primerica by 85.5% during the fourth quarter. FIL Ltd now owns 131,365 shares of the financial services provider's stock valued at $35,655,000 after acquiring an additional 60,565 shares during the period. Finally, Northern Trust Corp boosted its holdings in Primerica by 15.6% during the fourth 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.
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.
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