Primerica (NYSE:PRI) Stock Price Up 0.7% – Still a Buy?

Primerica, Inc. (NYSE:PRI)’s share price shot up 0.7% during trading on Monday . The stock traded as high as $286.16 and last traded at $285.26. 39,096 shares were traded during trading, a decline of 76% from the average session volume of 163,602 shares. The stock had previously closed at $283.33.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PRI shares. BMO Capital Markets started coverage on shares of Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price on the stock. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Piper Sandler lowered their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Morgan Stanley cut their price target 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. Finally, Keefe, Bruyette & Woods lifted their price objective on Primerica from $315.00 to $320.00 and gave the company 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 given a buy rating to the company. Based on data from MarketBeat, Primerica currently has a consensus rating of “Hold” and an average price target of $309.86.

Primerica Stock Performance

The firm has a 50-day moving average of $286.11 and a 200-day moving average of $282.43. The firm has a market capitalization of $9.59 billion, a P/E ratio of 20.96 and a beta of 1.12.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) 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, research analysts forecast that Primerica, Inc. will post 20.6 EPS 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 paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 annualized dividend and a yield of 1.44%. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is currently 30.25%.

Insider Transactions at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now directly owns 13,301 shares of the company’s stock, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 over the last three months. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Primerica

Several hedge funds and other institutional investors have recently made changes to their positions in PRI. Colonial Trust Co SC bought a new stake in Primerica during the fourth quarter valued at approximately $25,000. True Wealth Design LLC bought a new stake in shares of Primerica during the 4th quarter valued at $27,000. Golden State Wealth Management LLC purchased a new stake in shares of Primerica in the 4th quarter worth $33,000. EverSource Wealth Advisors LLC lifted its position in Primerica by 129.1% during 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 in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 115 shares during the period. Hedge funds and other 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.