Primerica, Inc. (NYSE:PRI - Get Free Report) shares traded up 0.6% on Wednesday . The stock traded as high as $271.72 and last traded at $271.72. 67,486 shares traded hands during trading, a decline of 57% from the average session volume of 156,347 shares. The stock had previously closed at $270.21.
Analyst Upgrades and Downgrades
Several brokerages have commented on PRI. Piper Sandler decreased their price target on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 18th. StockNews.com raised Primerica from a "hold" rating to a "buy" rating in a report on Friday, November 22nd. TD Cowen increased their price target on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Finally, Truist Financial raised their price target on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Primerica presently has a consensus rating of "Hold" and a consensus target price of $296.33.
Get Our Latest Stock Report on PRI
Primerica Stock Performance
The stock has a market cap of $9.07 billion, a P/E ratio of 20.76 and a beta of 1.09. The stock's fifty day moving average is $287.35 and its 200 day moving average is $264.07.
Primerica (NYSE:PRI - Get Free Report) last announced 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. The firm had revenue of $774.13 million during the quarter, compared to analysts' expectations of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.28 EPS. Equities research analysts predict that Primerica, Inc. will post 19.32 EPS for the current year.
Primerica Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.32%. The ex-dividend date was Thursday, November 21st. Primerica's payout ratio is 27.50%.
Primerica announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits 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 management believes its stock is undervalued.
Insider Transactions at Primerica
In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares of the company's stock, valued at $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.61% of the company's stock.
Institutional Trading of Primerica
A number of large investors have recently made changes to their positions in PRI. Raymond James Trust N.A. bought a new stake in shares of Primerica during the second quarter valued at approximately $354,000. HB Wealth Management LLC raised its position in Primerica by 8.8% during the 2nd quarter. HB Wealth Management LLC now owns 1,614 shares of the financial services provider's stock valued at $382,000 after purchasing an additional 131 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Primerica by 10.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,378 shares of the financial services provider's stock worth $1,982,000 after buying an additional 762 shares during the period. WBI Investments LLC purchased a new stake in shares of Primerica in the 2nd quarter worth $2,197,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Primerica by 26.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,540 shares of the financial services provider's stock worth $838,000 after buying an additional 743 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other 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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