Primerica (NYSE:PRI) Trading Down 0% – Here’s Why

by · The Markets Daily

Primerica, Inc. (NYSE:PRI – Get Free Report)’s stock price fell 0% on Tuesday . The stock traded as low as $273.98 and last traded at $275.65. 22,770 shares traded hands during trading, a decline of 84% from the average session volume of 141,612 shares. The stock had previously closed at $275.67.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley cut their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Piper Sandler cut their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, BMO Capital Markets began coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective on the stock. Six equities 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.com, the company has an average rating of “Hold” and an average price target of $309.86.

Get Our Latest Report on PRI

Primerica Trading Up 1.1 %

The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 20.27 and a beta of 1.12. The firm has a fifty day moving average price of $284.05 and a 200 day moving average price of $279.28.

Primerica (NYSE:PRI – Get Free Report) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping 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 analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal 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 given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is 30.25%.

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

Insider Activity

In related news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the sale, the president now directly owns 13,301 shares in the company, valued at $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. The trade was a 8.26 % 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 valued at $1,476,575. Company insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Jefferies Financial Group Inc. bought a new stake in Primerica in the fourth quarter valued at about $2,921,000. Burgundy Asset Management Ltd. grew its position in shares of Primerica by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider’s stock worth $349,717,000 after buying an additional 21,208 shares during the period. Vise Technologies Inc. bought a new stake in shares of Primerica in the 4th quarter valued at about $368,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Primerica by 9.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,679 shares of the financial services provider’s stock valued at $38,726,000 after acquiring an additional 11,737 shares during the period. Finally, Voloridge Investment Management LLC raised its position in shares of Primerica by 527.1% in the 4th quarter. Voloridge Investment Management LLC now owns 42,816 shares of the financial services provider’s stock valued at $11,621,000 after acquiring an additional 35,988 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

About Primerica

(Get Free Report)

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.

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