Primerica (NYSE:PRI) Shares Down 1.2% – Should You Sell?

Primerica, Inc. (NYSE:PRI)’s share price traded down 1.2% on Friday . The company traded as low as $284.46 and last traded at $285.41. 43,268 shares traded hands during trading, a decline of 72% from the average session volume of 154,054 shares. The stock had previously closed at $288.89.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler dropped their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Morgan Stanley dropped their price objective on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. BMO Capital Markets assumed coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $309.86.

Primerica Trading Down 1.4 %

The company’s 50-day simple moving average is $285.85 and its 200-day simple moving average is $280.60. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 20.73 and a beta of 1.12.

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

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a $1.04 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, February 21st. Primerica’s dividend payout ratio is 30.25%.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the sale, the president now directly owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Primerica

Several large investors have recently modified their holdings of PRI. GSA Capital Partners LLP acquired a new stake in shares of Primerica during the third quarter worth $228,000. CIBC Asset Management Inc increased its position in shares of Primerica by 3.5% during the third quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock worth $279,000 after buying an additional 36 shares during the period. Prospera Private Wealth LLC bought a new position in Primerica during the third quarter worth $31,000. Advisors Asset Management Inc. boosted its stake in Primerica by 187.1% during the third quarter. Advisors Asset Management Inc. now owns 643 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 419 shares in the last quarter. Finally, Great Valley Advisor Group Inc. bought a new position in Primerica during the third quarter worth $398,000. 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.