Primerica (NYSE:PRI) Stock Price Down 3.7%

Primerica, Inc. (NYSE:PRI) shares fell 3.7% during trading on Thursday . The stock traded as low as $232.46 and last traded at $234.24. 62,204 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 119,400 shares. The stock had previously closed at $243.23.

Analyst Ratings Changes

Several research firms have commented on PRI. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Morgan Stanley lifted their price objective on Primerica from $215.00 to $245.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Keefe, Bruyette & Woods lifted their price objective on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Truist Financial lifted their price objective on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $244.25.

Primerica Trading Down 0.6 %

The firm has a 50 day moving average price of $245.38 and a two-hundred day moving average price of $221.17. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 13.99 and a beta of 1.06.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, February 13th. The financial services provider reported $4.25 EPS for the quarter, missing the consensus estimate of $4.27 by ($0.02). The company had revenue of $726.34 million for the quarter, compared to analyst estimates of $723.64 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm posted $3.49 earnings per share. As a group, research analysts forecast that Primerica, Inc. will post 17.76 earnings per share for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were given a dividend of $0.75 per share. The ex-dividend date was Tuesday, February 20th. This is a positive change from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 annualized dividend and a yield of 1.35%. Primerica’s payout ratio is 18.89%.

Insider Buying and Selling

In related news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the transaction, the president now directly owns 13,259 shares of the company’s stock, valued at approximately $3,227,373.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Gregory C. Pitts sold 3,759 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the completion of the transaction, the chief operating officer now directly owns 3,379 shares in the company, valued at approximately $829,307.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $243.41, for a total value of $365,115.00. Following the transaction, the president now owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,708 shares of company stock valued at $1,648,677. Corporate insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Primerica

Several institutional investors and hedge funds have recently made changes to their positions in PRI. Arlington Trust Co LLC acquired a new stake in shares of Primerica during the 3rd quarter valued at approximately $25,000. LWM Advisory Services LLC acquired a new stake in shares of Primerica during the 3rd quarter valued at approximately $26,000. ORG Partners LLC acquired a new stake in shares of Primerica during the 4th quarter valued at approximately $26,000. Covestor Ltd raised its position in shares of Primerica by 74.7% during the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 109 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Primerica during the 4th quarter valued at approximately $38,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

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.