Primerica (NYSE:PRI) Stock Price Up 0.9% - Still a Buy?

Primerica, Inc. (NYSE:PRI - Get Free Report) shares were up 0.9% on Thursday . The company traded as high as $278.66 and last traded at $278.33. Approximately 149,564 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 155,813 shares. The stock had previously closed at $275.97.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PRI shares. Piper Sandler dropped their price target on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a research report on Monday. Truist Financial boosted their price objective on Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, TD Cowen boosted their price target on shares of Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Primerica has a consensus rating of "Hold" and a consensus target price of $296.33.

Primerica Price Performance

The firm has a market capitalization of $9.29 billion, a PE ratio of 21.26 and a beta of 1.11. The company has a fifty day moving average of $286.20 and a 200-day moving average of $267.30.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm had revenue of $774.13 million during the quarter, compared to analysts' expectations of $745.25 million. During the same period in the prior year, the company posted $4.28 earnings per share. Primerica's revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts anticipate that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued a $0.90 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.29%. Primerica's dividend payout ratio (DPR) is currently 27.50%.

Primerica announced that its Board of Directors has authorized a share buyback program on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits 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 shares are undervalued.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm'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 value of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 25,951 shares in the last quarter. Barclays PLC lifted 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 acquiring an additional 10,635 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Primerica in the 3rd quarter valued at $3,710,000. BNP Paribas Financial Markets grew its holdings in shares of Primerica by 320.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider's stock worth $1,525,000 after purchasing an additional 4,383 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Primerica during the 3rd quarter worth about $646,000. 90.88% of the stock is currently 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.