Primerica (NYSE:PRI) Stock Price Down 1% – Time to Sell?

Shares of Primerica, Inc. (NYSE:PRI) traded down 1% during mid-day trading on Monday . The company traded as low as $280.30 and last traded at $281.29. 134,291 shares were traded during mid-day trading, an increase of 7% from the average session volume of 125,765 shares. The stock had previously closed at $284.14.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PRI shares. TD Cowen raised their target price on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods decreased their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. BMO Capital Markets initiated coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target for the company. Finally, Truist Financial upped their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $310.43.

Primerica Price Performance

The stock has a market cap of $9.39 billion, a P/E ratio of 21.49 and a beta of 1.11. The stock has a 50-day simple moving average of $282.17 and a 200-day simple moving average of $276.08.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 30.93% and a net margin of 14.95%. As a group, sell-side analysts forecast that Primerica, Inc. will post 19.79 earnings per share for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a $1.04 dividend. 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 dividend yield of 1.48%. The ex-dividend date is Friday, February 21st. Primerica’s payout ratio is currently 27.50%.

Primerica declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Primerica

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Colonial Trust Co SC bought a new stake in Primerica during the 4th quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Primerica in the third quarter worth approximately $31,000. Prospera Private Wealth LLC bought a new position in shares of Primerica in the third quarter valued at approximately $31,000. Golden State Wealth Management LLC purchased a new position in shares of Primerica during the fourth quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after buying an additional 71 shares in the last quarter. 90.88% of the stock is owned by 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.