Primerica (NYSE:PRI) Shares Down 1.9% – Here’s Why

Primerica, Inc. (NYSE:PRI)’s stock price fell 1.9% during mid-day trading on Friday . The company traded as low as $283.12 and last traded at $284.46. 17,247 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 157,183 shares. The stock had previously closed at $289.92.

Analysts Set New Price Targets

Several equities analysts have weighed in on PRI shares. BMO Capital Markets assumed 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. Morgan Stanley lowered their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods lifted their price target on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Finally, Piper Sandler reduced their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Six research 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.com, the company has a consensus rating of “Hold” and an average price target of $309.86.

Primerica Price Performance

The stock has a 50 day moving average of $286.54 and a 200 day moving average of $281.35. The firm has a market cap of $9.44 billion, a P/E ratio of 20.62 and a beta of 1.12.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS 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%. On average, research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a dividend of $1.04 per share. The ex-dividend date was Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.47%. Primerica’s dividend payout ratio is currently 30.25%.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock valued at $1,476,575 over the last ninety days. 0.85% of the stock is owned by insiders.

Institutional Trading of Primerica

A number of hedge funds have recently modified their holdings of the business. Colonial Trust Co SC bought a new stake in Primerica in the fourth quarter worth $25,000. True Wealth Design LLC bought a new stake in Primerica during the 4th quarter valued at about $27,000. Golden State Wealth Management LLC bought a new position in shares of Primerica in the fourth quarter worth approximately $33,000. EverSource Wealth Advisors LLC grew its holdings in shares of Primerica by 129.1% during 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, Larson Financial Group LLC increased its holdings 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 worth $39,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

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.