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

Shares of Primerica, Inc. (NYSE:PRI) dropped 0% during trading on Tuesday . The stock traded as low as $273.98 and last traded at $275.65. Approximately 22,770 shares traded hands during trading, a decline of 84% from the average daily volume of 141,612 shares. The stock had previously closed at $275.67.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PRI shares. Morgan Stanley decreased their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. 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. TD Cowen lifted their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus price target of $309.86.

Primerica Stock Down 0.3 %

The stock has a market capitalization of $9.20 billion, a PE ratio of 20.13 and a beta of 1.12. The stock’s 50 day moving average price is $284.31 and its 200-day moving average price is $279.39.

Primerica (NYSE:PRI) last posted its quarterly 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 return on equity of 31.11% and a net margin of 15.14%. On average, analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.50%. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. Primerica’s dividend payout ratio is presently 30.25%.

Primerica announced that its board has initiated a stock repurchase plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Primerica

In other Primerica news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction 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 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 is accessible through this link. 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 transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 Trading of Primerica

Large investors have recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. grew its holdings in shares of 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 purchasing an additional 21,208 shares in the last quarter. Geode Capital Management LLC lifted its position in Primerica by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock valued at $211,691,000 after purchasing an additional 82,921 shares during the last quarter. Northern Trust Corp grew its stake in shares of Primerica by 15.6% in the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider’s stock worth $94,194,000 after buying an additional 46,935 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Primerica by 1.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 230,736 shares of the financial services provider’s stock worth $62,626,000 after buying an additional 2,905 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Primerica by 0.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 159,774 shares of the financial services provider’s stock valued at $43,366,000 after buying an additional 1,484 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

About Primerica

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.