Primerica (NYSE:PRI) Trading 0.4% Higher - Time to Buy?

Primerica, Inc. (NYSE:PRI - Get Free Report)'s stock price was up 0.4% during mid-day trading on Thursday . The stock traded as high as $281.30 and last traded at $280.10. Approximately 18,021 shares were traded during trading, a decline of 87% from the average daily volume of 138,092 shares. The stock had previously closed at $278.93.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BMO Capital Markets assumed coverage on Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price target for the company. StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods lowered their price target on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a report on Friday, January 10th. Morgan Stanley boosted their price objective on shares of Primerica from $308.00 to $313.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Truist Financial boosted their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $310.43.

Primerica Stock Down 1.0 %

The business has a 50-day moving average price of $282.17 and a 200-day moving average price of $276.08. The firm 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 issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 30.93% and a net margin of 14.95%. On average, equities research analysts forecast that Primerica, Inc. will post 19.79 earnings per share for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. Primerica's payout ratio is 27.50%.

Primerica announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Primerica

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of Primerica by 3.9% during the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider's stock valued at $184,807,000 after buying an additional 25,951 shares during the last quarter. Barclays PLC grew its holdings in shares of Primerica by 108.1% during the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock valued at $5,428,000 after buying an additional 10,635 shares during the last quarter. Sylvest Advisors LLC purchased a new stake in shares of Primerica during the fourth quarter valued at $543,000. Oak Thistle LLC grew its holdings in shares of Primerica by 64.9% during the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider's stock valued at $1,340,000 after buying an additional 1,943 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Primerica in the third quarter valued at $3,710,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

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.