Primerica (NYSE:PRI) Sees Strong Trading Volume

Shares of Primerica, Inc. (NYSE:PRI) saw strong trading volume on Thursday . 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 Analysts Forecast Growth

Several analysts have recently commented on PRI shares. Raymond James downgraded Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Morgan Stanley increased their price target on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research report on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Finally, Truist Financial raised their price target on shares of Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $245.50.

Primerica Stock Down 4.1 %

The firm has a market cap of $7.05 billion, a PE ratio of 12.50 and a beta of 1.06. The company has a 50-day simple moving average of $244.21 and a two-hundred day simple moving average of $221.71.

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

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Wednesday, February 21st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.48%. This is a boost from Primerica’s previous quarterly dividend of $0.65. The ex-dividend date was Tuesday, February 20th. Primerica’s payout ratio is presently 18.89%.

Insider Activity

In related news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total value of $58,455.54. Following the sale, the insider now owns 100 shares of the company’s stock, valued at approximately $24,981. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the sale, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at $829,307.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total transaction of $58,455.54. Following the transaction, the insider now owns 100 shares of the company’s stock, valued at approximately $24,981. The disclosure for this sale can be found here. Insiders sold 6,708 shares of company stock valued at $1,648,677 in the last three months. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Primerica

A number of large investors have recently made changes to their positions in PRI. Trust Point Inc. bought a new stake in shares of Primerica during the 4th quarter valued at $339,000. Los Angeles Capital Management LLC grew its holdings in Primerica by 44.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 84,938 shares of the financial services provider’s stock valued at $16,479,000 after buying an additional 25,981 shares in the last quarter. James Investment Research Inc. purchased a new position in Primerica during the 3rd quarter valued at about $1,054,000. Alps Advisors Inc. bought a new stake in shares of Primerica during the third quarter valued at about $6,098,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in shares of Primerica by 25.5% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 2,226 shares of the financial services provider’s stock worth $458,000 after buying an additional 452 shares in 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.