Primerica (NYSE:PRI) Trading Down 4.4% – Time to Sell?

Primerica, Inc. (NYSE:PRI) fell 4.4% on Wednesday . The stock traded as low as $270.67 and last traded at $277.42. 47,034 shares traded hands during trading, a decline of 65% from the average session volume of 134,845 shares. The stock had previously closed at $290.14.

Analyst Upgrades and Downgrades

PRI has been the subject of a number of research reports. Piper Sandler lowered their price target 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. Keefe, Bruyette & Woods lowered their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Friday, January 10th. BMO Capital Markets initiated coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target for the company. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Finally, TD Cowen raised their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $304.14.

Primerica Stock Down 3.0 %

The firm has a fifty day simple moving average of $283.06 and a 200-day simple moving average of $275.43. The company has a market capitalization of $9.39 billion, a P/E ratio of 21.46 and a beta of 1.11.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 30.93% and a net margin of 14.95%. On average, sell-side analysts predict that Primerica, Inc. will post 19.79 earnings per share for the current fiscal year.

Primerica declared that its board has authorized 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 repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Primerica during the third quarter valued at approximately $31,000. Prospera Private Wealth LLC acquired a new stake in shares of Primerica in the third quarter valued at approximately $31,000. Golden State Wealth Management LLC acquired a new stake in shares of Primerica in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC lifted its position 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 buying an additional 71 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of 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 buying an additional 67 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

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.