Primerica (NYSE:PRI) Trading Down 0% – Here’s Why

Primerica, Inc. (NYSE:PRI)’s share price fell 0% during mid-day trading on Thursday . The company traded as low as $270.20 and last traded at $271.67. 9,202 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 155,751 shares. The stock had previously closed at $271.72.

Analyst Ratings Changes

PRI has been the subject of several recent analyst reports. Truist Financial boosted 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 decreased their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Finally, TD Cowen upped their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $296.33.

Primerica Stock Performance

The company has a market cap of $9.03 billion, a P/E ratio of 20.67 and a beta of 1.09. The stock has a 50-day moving average of $286.82 and a two-hundred day moving average of $264.49.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. The company had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.28 EPS. As a group, sell-side analysts forecast that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Primerica declared that its board has initiated a stock repurchase program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value 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. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

A number of institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Primerica during the 3rd quarter valued at about $31,000. Prospera Private Wealth LLC bought a new position in shares of Primerica during the third quarter valued at approximately $31,000. UMB Bank n.a. raised its holdings in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 67 shares in the last quarter. Larson Financial Group LLC lifted its stake in Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in Primerica in the second quarter worth $71,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

About Primerica

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.