Primerica (NYSE:PRI) Trading Up 1.6% – Still a Buy?

Primerica, Inc. (NYSE:PRI) shares shot up 1.6% on Monday . The stock traded as high as $292.61 and last traded at $290.05. 36,107 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 141,042 shares. The stock had previously closed at $285.37.

Analysts Set New Price Targets

Several research firms have commented on PRI. TD Cowen upped their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price target 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 reduced their price objective 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. BMO Capital Markets started coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Finally, StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from 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 market cap of $9.57 billion, a P/E ratio of 20.94 and a beta of 1.12. The firm’s fifty day moving average price is $285.15 and its two-hundred day moving average price is $280.19.

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

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a dividend of $1.04 per share. The ex-dividend date was Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.44%. Primerica’s payout ratio is presently 30.25%.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock valued at $1,476,575 in the last quarter. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of Primerica

Several hedge funds have recently added to or reduced their stakes in the business. Colonial Trust Co SC purchased a new position in shares of Primerica in the fourth quarter worth about $25,000. True Wealth Design LLC bought a new position in Primerica during the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC purchased a new position in Primerica in the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC bought a new stake in Primerica in the fourth quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC lifted its position in Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 71 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

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.