Primerica, Inc. (NYSE:PRI) Short Interest Update

by · The Markets Daily

Primerica, Inc. (NYSE:PRI – Get Free Report) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 175,600 shares, a drop of 19.9% from the October 15th total of 219,100 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 130,400 shares, the short-interest ratio is currently 1.3 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Thursday. Piper Sandler started coverage on shares of Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price for the company. TD Cowen began coverage on shares of Primerica in a research note on Wednesday, October 9th. They issued a “buy” rating and a $314.00 price objective for the company. Truist Financial increased their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Morgan Stanley raised their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $288.33.

Check Out Our Latest Stock Analysis on Primerica

Insider Activity

In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the sale, the president now owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The trade was a 12.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock valued at $1,803,175 over the last three months. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of Primerica during the 3rd quarter valued at approximately $31,000. Prospera Private Wealth LLC acquired a new stake in Primerica in the third quarter valued at approximately $31,000. ORG Partners LLC bought a new stake in shares of Primerica during the second quarter worth $30,000. UMB Bank n.a. increased its holdings in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Trading Up 0.6 %

PRI stock traded up $1.79 during mid-day trading on Friday, hitting $298.61. The stock had a trading volume of 98,132 shares, compared to its average volume of 154,471. The firm has a fifty day simple moving average of $273.65 and a 200 day simple moving average of $251.14. The firm has a market capitalization of $9.96 billion, a P/E ratio of 22.80 and a beta of 1.08. Primerica has a 52 week low of $184.76 and a 52 week high of $304.84.

Primerica (NYSE:PRI – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. The business had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.28 earnings per share. As a group, equities analysts expect that Primerica will post 19.12 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.21%. Primerica’s dividend payout ratio is currently 27.50%.

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

Primerica Company Profile

(Get Free Report)

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.

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