Primerica (NYSE:PRI) Trading Down 0.1% – Time to Sell?

Primerica, Inc. (NYSE:PRI) was down 0.1% during mid-day trading on Tuesday . The company traded as low as $290.99 and last traded at $292.75. Approximately 18,668 shares traded hands during trading, a decline of 86% from the average daily volume of 131,910 shares. The stock had previously closed at $293.16.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler dropped their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Truist Financial lifted their price target on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods lowered their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. TD Cowen raised 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. Finally, BMO Capital Markets assumed 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. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $304.14.

Primerica Price Performance

The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 22.33 and a beta of 1.11. The stock has a 50 day moving average price of $283.22 and a 200-day moving average price of $275.15.

Primerica announced that its board has initiated a share buyback program on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in Primerica during the third quarter worth approximately $31,000. Prospera Private Wealth LLC purchased a new position in shares of Primerica during the 3rd quarter worth $31,000. Golden State Wealth Management LLC acquired a new position in shares of Primerica during the 4th quarter valued at about $33,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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, UMB Bank n.a. increased its position in Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares during the last quarter. 90.88% of the stock is 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.