Primerica (NYSE:PRI) Trading Up 0.1% - What's Next?

Primerica, Inc. (NYSE:PRI - Get Free Report) shot up 0.1% during mid-day trading on Wednesday . The stock traded as high as $288.05 and last traded at $282.77. 15,854 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 135,889 shares. The stock had previously closed at $282.56.

Analyst Ratings Changes

A number of research analysts recently issued reports on PRI shares. TD Cowen raised their price target on Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. StockNews.com upgraded shares of Primerica from a "hold" rating to a "buy" rating in a research note on Tuesday. Truist Financial lifted 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. Piper Sandler reduced their target price on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a report on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods lowered their price target on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Primerica currently has a consensus rating of "Hold" and an average target price of $303.00.

Primerica Stock Up 1.1 %

The company's fifty day moving average price is $286.04 and its two-hundred day moving average price is $268.83. The firm has a market cap of $9.74 billion, a PE ratio of 22.30 and a beta of 1.11.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, beating 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 analyst estimates of $745.25 million. During the same quarter in the previous year, the company earned $4.28 EPS. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts predict that Primerica, Inc. will post 19.55 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Thursday, November 21st. Primerica's dividend payout ratio is presently 27.50%.

Primerica announced that its board has approved a share repurchase plan on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now owns 36,322 shares of the company's stock, valued at $10,942,728.94. The trade was a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On Primerica

Several hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in shares of Primerica in the third quarter valued at $31,000. Prospera Private Wealth LLC acquired a new position in Primerica during the third quarter worth about $31,000. UMB Bank n.a. lifted its holdings in shares of Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 67 shares in the last quarter. Larson Financial Group LLC grew its position in shares of 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 purchasing an additional 54 shares during the last quarter. Finally, Quarry LP increased its stake in shares of Primerica by 629.2% during the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider's stock worth $93,000 after purchasing an additional 302 shares in 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.

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