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

by · The Cerbat Gem

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

Analysts Set New Price Targets

A number of research analysts have recently commented on PRI shares. Morgan Stanley cut their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. TD Cowen upped their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler decreased their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Primerica presently has a consensus rating of “Hold” and an average price target of $309.86.

Check Out Our Latest Research Report on PRI

Primerica Trading Down 0.3 %

The firm has a market cap of $9.20 billion, a P/E ratio of 20.13 and a beta of 1.12. The business has a 50-day moving average price of $284.31 and a 200-day moving average price of $279.39.

Primerica (NYSE:PRI – Get Free Report) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, equities analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.50%. This is a positive change from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Primerica announced that its board has authorized a share repurchase program on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $845,220.00. Following the sale, the chief executive officer now directly owns 33,322 shares of the company’s stock, 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 90 days, insiders have sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Primerica in the fourth quarter worth $34,191,000. AQR Capital Management LLC grew its stake in Primerica by 254.5% during the 4th quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider’s stock worth $31,558,000 after buying an additional 83,477 shares during the last quarter. Geode Capital Management LLC grew its stake in Primerica by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock worth $211,691,000 after buying an additional 82,921 shares during the last quarter. FIL Ltd increased its position in Primerica by 85.5% during the 4th quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock valued at $35,655,000 after buying an additional 60,565 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Primerica by 2,508.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider’s stock valued at $15,606,000 after buying an additional 55,295 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Company Profile

(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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