Primerica (NYSE:PRI) Shares Up 0.4% – Time to Buy?

Primerica, Inc. (NYSE:PRI)’s stock price rose 0.4% during mid-day trading on Wednesday . The company traded as high as $288.54 and last traded at $289.20. Approximately 21,297 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 164,905 shares. The stock had previously closed at $288.05.

Analysts Set New Price Targets

PRI has been the subject of several recent analyst reports. Morgan Stanley decreased 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. Keefe, Bruyette & Woods lifted their price objective 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 target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. BMO Capital Markets began coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target for the company. Finally, StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $309.86.

Primerica Stock Performance

The company has a market cap of $8.25 billion, a price-to-earnings ratio of 18.05 and a beta of 1.12. The stock’s fifty day moving average is $285.75 and its two-hundred day moving average is $282.44.

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

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 yield of 1.68%. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. Primerica’s payout ratio is currently 30.25%.

Insider Activity

In other Primerica 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 sale, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at $56,030. The trade was a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock worth $1,476,575 over the last quarter. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc raised its stake in shares of Primerica by 320.8% during the 1st quarter. Versant Capital Management Inc now owns 425 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 324 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Primerica by 11.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,385 shares of the financial services provider’s stock worth $919,000 after acquiring an additional 354 shares during the period. Jefferies Financial Group Inc. bought a new stake in Primerica in the fourth quarter worth about $2,921,000. Burgundy Asset Management Ltd. boosted its stake in Primerica by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider’s stock valued at $349,717,000 after acquiring an additional 21,208 shares during the last quarter. Finally, Vise Technologies Inc. bought a new position in shares of Primerica during the 4th quarter valued at approximately $368,000. Institutional investors 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.