Primerica (NYSE:PRI) Trading Up 0.7% – Time to Buy?

Primerica, Inc. (NYSE:PRI) shares traded up 0.7% during trading on Tuesday . The stock traded as high as $294.88 and last traded at $294.04. 14,006 shares were traded during trading, a decline of 91% from the average session volume of 154,810 shares. The stock had previously closed at $292.04.

Wall Street Analyst Weigh In

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

Primerica Price Performance

The stock has a 50-day simple moving average of $286.52 and a 200 day simple moving average of $281.29. The company has a market capitalization of $9.74 billion, a PE ratio of 21.23 and a beta of 1.12.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share 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, research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.42%. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. Primerica’s dividend payout ratio is presently 30.25%.

Insider Buying and Selling

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the transaction, the insider now directly owns 200 shares of the company’s stock, valued at $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the 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 sale, the president now owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Primerica

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Primerica during the fourth quarter worth about $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 valued at $31,558,000 after purchasing an additional 83,477 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 purchasing an additional 82,921 shares during the last quarter. FIL Ltd raised its position in shares of Primerica by 85.5% in the 4th quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock valued at $35,655,000 after purchasing an additional 60,565 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Primerica by 2,508.8% during the 4th 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 and hedge funds own 90.88% of the company’s stock.

Primerica Company Profile

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.