Primerica (NYSE:PRI) Stock Price Down 0.8% - Here's Why

On Monday, shares of Primerica, Inc. (NYSE:PRI) saw a decline of 0.8%, trading as low as $293.46 before closing at $294.05. During mid-day trading, only 16,697 shares exchanged hands, significantly lower than the average trading volume of 132,542 shares, marking a drop of 87%. The previous closing price stood at $296.43.

Wall Street Analyst Opinions

Recent evaluations from equities analysts reflect mixed sentiments regarding Primerica. BMO Capital Markets initiated coverage on January 23 with a "market perform" rating and set a price target of $311.00. On January 10, Keefe, Bruyette & Woods revised their price target from $320.00 to $315.00 while maintaining a "market perform" stance. Piper Sandler also lowered its price objective from $313.00 to $300.00, categorizing it as "neutral" in their report dated December 18.

Meanwhile, Truist Financial increased their target price for Primerica from $300.00 to $340.00, granting it a "buy" rating on November 8. TD Cowen similarly raised their price target from $314.00 to $345.00 on November 26, also recommending it as a "buy". Currently, seven analysts rate Primerica as a hold, while two have assigned a buy rating. MarketBeat data indicates an average rating of "Hold" with a consensus price target of $304.14.

Analyzing Primerica's Stock Performance

Primerica has a market capitalization of $9.79 billion, with a price-to-earnings ratio of 22.42 and a beta of 1.11. The company's 50-day and 200-day moving averages are $283.37 and $274.84, respectively.

On November 14, Primerica's Board of Directors approved a $450.00 million share repurchase program, allowing the company to buy back approximately 4.5% of its outstanding shares. This repurchase initiative is often viewed as a sign that the company's leaders believe the stock is undervalued.

Institutional Investor Activity

In the recent quarters, various institutional investors have been adjusting their holdings in Primerica. Notably, V Square Quantitative Management LLC and Prospera Private Wealth LLC each acquired new stakes in Primerica valued around $31,000 in the third quarter. Golden State Wealth Management LLC added to their position in the fourth quarter with an investment of approximately $33,000.

EverSource Wealth Advisors LLC notably increased their holdings by 129.1% in the same period, owning 126 shares worth $34,000 after an additional purchase of 71 shares. UMB Bank also ramped up its position by 85.9% in the third quarter, owning 145 shares valued at $38,000. Overall, institutional investors and hedge funds own about 90.88% of Primerica's stock.

About Primerica

Primerica, Inc. is a financial services provider serving primarily middle-income households in the United States and Canada. The company operates across four main segments: Term Life Insurance, Investment and Savings Products, Senior Health, and Corporate and Other Distributed Products.

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Investing in stocks requires careful consideration and the guidance of analysts can be beneficial. Before making any investment decisions regarding Primerica, it's wise to examine the recommendations and performance of other stocks as advised by analysts.

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