Primerica (NYSE:PRI) Sees Strong Trading Volume

Shares of Primerica, Inc. (NYSE:PRI) saw unusually-high trading volume on Thursday . Approximately 612,390 shares changed hands during trading, an increase of 343% from the previous session’s volume of 138,261 shares.The stock last traded at $187.11 and had previously closed at $211.64.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Morgan Stanley raised their target price on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods raised their target price on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Finally, Truist Financial raised their target price on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $245.50.

Primerica Stock Performance

The stock has a fifty day simple moving average of $243.14 and a two-hundred day simple moving average of $221.80. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 13.54 and a beta of 1.06.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.27 by ($0.02). Primerica had a net margin of 20.37% and a return on equity of 27.83%. The firm had revenue of $726.34 million for the quarter, compared to analyst estimates of $723.64 million. During the same period last year, the business earned $3.49 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. Equities analysts expect that Primerica, Inc. will post 17.78 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were issued a dividend of $0.75 per share. This is an increase from Primerica’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. Primerica’s dividend payout ratio (DPR) is 18.89%.

Insider Activity at Primerica

In related news, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now owns 3,379 shares of the company’s stock, valued at approximately $829,307.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now owns 3,379 shares of the company’s stock, valued at approximately $829,307.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the transaction, the insider now directly owns 100 shares in the company, valued at $24,981. The disclosure for this sale can be found here. Insiders have sold a total of 6,708 shares of company stock valued at $1,648,677 in the last 90 days. 0.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Partners LLC acquired a new position in Primerica during the 4th quarter worth about $26,000. Arlington Trust Co LLC bought a new position in shares of Primerica in the 3rd quarter worth about $25,000. LWM Advisory Services LLC bought a new position in shares of Primerica in the 3rd quarter worth about $26,000. Sound Income Strategies LLC raised its position in shares of Primerica by 121.9% in the 4th quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 128 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Primerica by 74.7% in the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 109 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

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.