Primerica (NYSE:PRI) Trading 3.2% Higher - What's Next?

Primerica, Inc. (NYSE:PRI - Get Free Report) shares shot up 3.2% during trading on Monday . The stock traded as high as $292.47 and last traded at $293.65. 17,826 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 156,141 shares. The stock had previously closed at $284.52.

Analysts Set New Price Targets

PRI has been the subject of a number of recent analyst reports. BMO Capital Markets initiated coverage on Primerica in a research note on Thursday, January 23rd. They set a "market perform" rating and a $311.00 target price for the company. Piper Sandler reduced their price objective on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research report on Wednesday, December 18th. Morgan Stanley dropped their target price on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. StockNews.com downgraded shares of Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Primerica currently has a consensus rating of "Hold" and an average price target of $309.86.

Remove Ads

Primerica Stock Performance

The company has a market cap of $9.68 billion, a PE ratio of 21.18 and a beta of 1.12. The firm's 50 day moving average is $286.52 and its 200-day moving average is $281.29.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a dividend of $1.04 per share. This is a boost from Primerica's previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.43%. Primerica's payout ratio is presently 30.25%.

Insider Activity at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the transaction, the insider now directly owns 200 shares in the company, valued at approximately $56,030. This represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Peter W. Schneider sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now directly owns 13,301 shares of the company's stock, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is owned by company insiders.

Institutional Trading of Primerica

Several institutional investors and hedge funds have recently bought and sold shares of PRI. Colonial Trust Co SC acquired a new stake in shares of Primerica during the fourth quarter valued at about $25,000. True Wealth Design LLC purchased a new position in shares of Primerica during the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC acquired a new stake in Primerica in the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC raised its position in Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 71 shares during the period. Finally, Larson Financial Group LLC lifted its stake in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock worth $39,000 after purchasing an additional 54 shares in the last quarter. 90.88% of the stock is currently 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.