Primerica (NYSE:PRI) Shares Up 0.4% – What’s Next?

Primerica, Inc. (NYSE:PRI)’s stock price traded up 0.4% during trading on Monday . The stock traded as high as $278.87 and last traded at $277.57. 17,938 shares traded hands during trading, a decline of 84% from the average session volume of 110,745 shares. The stock had previously closed at $276.40.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PRI shares. Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Truist Financial upped 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. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Monday. Finally, TD Cowen lifted their price objective on 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, the company presently has a consensus rating of “Hold” and a consensus target price of $296.33.

Primerica Stock Performance

The company has a market cap of $9.29 billion, a PE ratio of 21.26 and a beta of 1.11. The firm’s 50 day moving average is $286.20 and its 200-day moving average is $267.15.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 30.93% and a net margin of 14.95%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $4.28 EPS. On average, analysts predict that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Dividend Announcement

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 of this dividend was Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.29%. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Primerica declared that its board has approved a stock repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of Primerica by 3.9% during the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after purchasing an additional 25,951 shares during the last quarter. Barclays PLC grew 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 worth $5,428,000 after buying an additional 10,635 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Primerica in the 3rd quarter valued at about $3,710,000. BNP Paribas Financial Markets raised its stake in Primerica by 320.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider’s stock valued at $1,525,000 after acquiring an additional 4,383 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Primerica in the third quarter valued at approximately $646,000. 90.88% of the stock is 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.