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

Primerica, Inc. (NYSE:PRI) experienced a notable rise in short interest during November. By November 15th, short interest reached 214,200 shares, which marks a 22.0% increase from the 175,600 shares reported at the end of October. Currently, short sales account for approximately 0.7% of the stock's total shares. Given the average trading volume of 135,600 shares, the short-interest ratio stands at 1.6 days.

Analysts Set New Price Targets

In recent analyses, several brokerage firms provided updated ratings for Primerica. StockNews.com upgraded the company from a "hold" to a "buy" rating on November 22nd. TD Cowen raised their price target for Primerica from $314.00 to $345.00 and rated it as a "buy" on November 26th. Piper Sandler began coverage with a "neutral" rating and a target price of $283.00 as of August 30th. Additionally, Morgan Stanley increased their price target from $257.00 to $269.00, maintaining an "equal weight" rating as of August 19th, while Truist Financial also raised their target from $300.00 to $340.00 with a "buy" rating on November 8th. Overall, five analysts have given Primerica a hold rating, while three have issued a buy recommendation, resulting in a consensus rating of "Hold" and an average price target of $293.50.

Insider Activity

In insider news, Director John A. Jr. Addison sold 2,000 shares on September 10th at an average price of $253.85, totaling $507,700. Following this sale, he now holds 15,151 shares, valued at approximately $3,846,081.35, marking an 11.66% decrease in his stake. The details of this transaction were filed with the Securities & Exchange Commission. On November 11th, CEO Glenn J. Williams sold 3,000 shares at an average price of $301.27, totaling $903,810, and now owns 36,322 shares worth about $10,942,728.94, reflecting a decrease of 7.63% in his ownership. Corporate insiders now hold 0.85% of the company's stock.

Institutional Investors Weigh In On Primerica

Institutional investors have recently adjusted their positions in Primerica. B. Metzler seel. Sohn & Co. Holding AG took a new stake worth approximately $3,710,000 in the third quarter. Harbor Capital Advisors Inc. increased its stake by an impressive 456.8% during the second quarter, now owning 9,149 shares valued at $2,164,000 after acquiring an additional 7,506 shares. Other large acquisitions include Susquehanna Fundamental Investments LLC with a new stake amounting to about $3,514,000, and SG Americas Securities LLC with a stake of approximately $893,000. Notably, International Assets Investment Management LLC expanded its stake by an astonishing 359,742.9%, owning 25,189 shares worth $6,679,000 after adding 25,182 shares in the third quarter. Overall, institutional investors and hedge funds control 90.88% of Primerica's stock.

Primerica Stock Down 0.4%

On Monday, Primerica's stock fell by $1.31, closing at $301.44. The trading volume was 3,251 shares, compared to the average of 152,614 shares. The market capitalization stands at $10.06 billion, with a price-to-earnings ratio of 23.13 and a beta of 1.08. Over the past year, the stock has fluctuated between a low of $184.76 and a high of $307.91. Its 50-day simple moving average is $282.86, while the 200-day average is $257.28.

Primerica's most recent quarterly earnings results showed that the company earned $5.68 per share, surpassing the consensus estimate of $4.81 by $0.87. The company reported revenues of $774.13 million, exceeding analyst projections of $745.25 million. Primerica posted a return on equity of 30.93% and a net margin of 14.95%, with quarterly revenue showing an 11.0% increase compared to the same quarter last year, where it reported $4.28 earnings per share. Analysts expect Primerica to achieve an EPS of 19.32 for the current fiscal year.

Furthermore, on November 14th, Primerica's Board of Directors approved a stock repurchase plan authorizing the buyback of $450 million in shares, amounting to a repurchase of up to 4.5% of the company's shares through open market transactions. Such plans often indicate that management views the stock as undervalued.

Primerica Dividend Announcement

The company also announced a quarterly dividend of $0.90, set to be paid on December 12th to stockholders of record as of November 21st, with the ex-dividend date also being November 21st. This translates to an annualized dividend of $3.60 and a dividend yield of 1.19%. Primerica's payout ratio stands at 27.50%.

Primerica Company Overview

Primerica, Inc. operates as a financial services provider alongside its subsidiaries, aiming to deliver financial products and services targeted at middle-income households within the United States and Canada. The organization functions in four primary segments: Term Life Insurance, Investment and Savings Products, Senior Health, and Corporate and Other Distributed Products.

Conclusion

As Primerica continues to navigate market dynamics and analyst ratings shift, stakeholders should stay informed about company movements and industry trends.

Primerica, Finance, Investors