Primerica (NYSE:PRI) Trading 0.8% Higher – Should You Buy?

Shares of Primerica, Inc. (NYSE:PRI) were up 0.8% on Thursday . The company traded as high as $293.58 and last traded at $292.56. Approximately 19,332 shares changed hands during trading, a decline of 88% from the average daily volume of 155,093 shares. The stock had previously closed at $290.19.

Analyst Ratings Changes

A number of brokerages have commented on PRI. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Morgan Stanley reduced 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. Piper Sandler decreased their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Finally, BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $309.86.

Primerica Price Performance

The business’s fifty day moving average price is $286.52 and its two-hundred day moving average price is $281.29. The stock has a market capitalization of $9.67 billion, a PE ratio of 21.14 and a beta of 1.12.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. As a group, equities research analysts anticipate 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 dividend of $1.04 per share. The ex-dividend date was Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.43%. Primerica’s dividend payout ratio (DPR) is currently 30.25%.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now directly owns 200 shares of the company’s stock, valued at $56,030. The trade was a 53.92 % 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. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Primerica

Institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. grew its position in Primerica by 187.1% during the third quarter. Advisors Asset Management Inc. now owns 643 shares of the financial services provider’s stock valued at $170,000 after buying an additional 419 shares during the period. Great Valley Advisor Group Inc. acquired a new stake in shares of Primerica during the 3rd quarter valued at about $398,000. Cerity Partners LLC acquired a new stake in shares of Primerica during the 3rd quarter valued at about $983,000. Larson Financial Group LLC increased its stake in shares of Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 54 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Primerica by 4.6% in the 3rd quarter. Bank of Montreal Can now owns 34,685 shares of the financial services provider’s stock worth $9,128,000 after purchasing an additional 1,536 shares during the period. 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.