Primerica (NYSE:PRI) Stock Price Up 0.6% – Time to Buy?

Primerica, Inc. (NYSE:PRI)’s stock price shot up 0.6% during trading on Tuesday . The company traded as high as $273.02 and last traded at $271.37. 11,309 shares were traded during trading, a decline of 93% from the average session volume of 154,976 shares. The stock had previously closed at $269.68.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. TD Cowen upped their price target on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler decreased their target price on 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 raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Finally, Truist Financial increased their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Primerica has a consensus rating of “Hold” and a consensus target price of $296.33.

Primerica Stock Performance

The business has a 50 day simple moving average of $286.68 and a 200-day simple moving average of $265.42. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 20.72 and a beta of 1.09.

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 firm had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. Primerica’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.28 earnings per share. Equities analysts predict that Primerica, Inc. will post 19.32 earnings per share for the current fiscal year.

Primerica Dividend Announcement

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

Primerica announced that its Board of Directors has authorized a share buyback plan on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is 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 shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, 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 filing with the SEC, which is available at this link. Company insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new stake in Primerica in the 3rd quarter valued at about $31,000. Prospera Private Wealth LLC acquired a new stake in Primerica in the third quarter valued at approximately $31,000. UMB Bank n.a. raised its holdings in Primerica by 85.9% in 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 last quarter. Finally, Quarry LP increased its position in shares of Primerica by 629.2% in the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 302 shares during the last quarter. 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.