Companies

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

Published December 2, 2024

Primerica, Inc. (NYSE:PRI) recently experienced a notable rise in short interest during November. By November 15th, the total short interest reached 214,200 shares, which is a 22.0% increase from the 175,600 shares reported on October 31st. This figure indicates that about 0.7% of the company's shares are currently sold short. With an average trading volume of 135,600 shares, the days-to-cover ratio stands at 1.6 days.

Analysts Set New Price Targets

Numerous brokerage firms have recently expressed opinions on Primerica. StockNews.com upgraded the company's rating from "hold" to "buy" in a report on November 22nd. Additionally, TD Cowen raised their price target from $314.00 to $345.00 while maintaining a "buy" rating in their report dated November 26th. Piper Sandler initiated coverage on Primerica, giving it a "neutral" rating along with a target price of $283.00. Morgan Stanley has also adjusted its price target on Primerica from $257.00 to $269.00, providing an "equal weight" rating in an August 19th report. Furthermore, Truist Financial increased its target from $300.00 to $340.00, categorizing the stock as a "buy" in a report from November 8th. Overall, five investment analysts rated Primerica as a hold, while three assigned a buy rating. MarketBeat data suggests that the stock carries a consensus rating of "Hold" with an average target price of $293.50.

Check Out Our Latest Analysis on Primerica

Insider Activity

In other news, Director John A. Jr. Addison sold 2,000 shares of Primerica on September 10th at an average price of $253.85, for a total of $507,700.00. After this transaction, he holds 15,151 shares valued at approximately $3,846,081.35, which reflects an 11.66% reduction in his position. This transaction was disclosed to the Securities and Exchange Commission (SEC). Additionally, CEO Glenn J. Williams sold 3,000 shares on November 11th for an average price of $301.27, resulting in a total of $903,810.00. After selling, he retains ownership of 36,322 shares worth around $10,942,728.94, marking a 7.63% decrease in his holding. Corporate insiders possess about 0.85% of the company's stock.

Institutional Investors Weigh In On Primerica

Recently, several institutional investors have adjusted their positions in Primerica. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake worth around $3,710,000 during the third quarter. Harbor Capital Advisors Inc. increased its stake by 456.8% in the second quarter, now holding 9,149 shares valued at $2,164,000 after an additional purchase of 7,506 shares. Susquehanna Fundamental Investments LLC also acquired a new stake during this second quarter amounting to about $3,514,000. SG Americas Securities LLC and International Assets Investment Management LLC also established new positions in Primerica, with International Assets increasing its stake by a staggering 359,742.9% during the third quarter, now owning 25,189 shares worth $6,679,000. In total, institutional investors and hedge funds control 90.88% of the company's stock.

Primerica Stock Movement

On Monday, Primerica's stock dropped by 0.4%, closing at $301.44 with a trading volume of 3,251 shares, compared to an average volume of 152,614. The company boasts a market cap of $10.06 billion, a price-to-earnings ratio of 23.13, and a beta of 1.08. Over the past year, Primerica's stock has seen a low of $184.76 and a high of $307.91. Its 50-day and 200-day simple moving averages are currently $282.86 and $257.28, respectively.

Primerica most recently released its quarterly earnings results on November 6th, reporting earnings per share (EPS) of $5.68 for the quarter, surpassing the consensus estimate of $4.81 by $0.87. The company's revenue for the quarter reached $774.13 million, exceeding analyst expectations of $745.25 million. Primerica reported a return on equity of 30.93% and a net margin of 14.95%, with quarterly revenue growing by 11.0% year-over-year. Analysts anticipate that the company will post an EPS of 19.32 for the current fiscal year.

On November 14th, Primerica's Board of Directors authorized a $450.00 million stock repurchase plan, allowing the company to buy back up to 4.5% of its shares. This decision often suggests that the company’s management perceives its stock to be undervalued.

Primerica Dividend Announcement

Primerica also announced a quarterly dividend that will be distributed on December 12th. Stockholders who were recorded by November 21st will receive a dividend of $0.90. The ex-dividend date is also set for November 21st, leading to an annualized dividend of $3.60, representing a yield of 1.19%. The company maintains a payout ratio of 27.50%.

Primerica Company Profile

Primerica, Inc. and its subsidiaries provide various financial products and services aimed at middle-income families primarily within the United States and Canada. The company operates across four segments: Term Life Insurance, Investment and Savings Products, Senior Health, and Corporate and Other Distributed Products.