Primerica, Inc. (NYSE:PRI) was the recipient of a large decline in short interest in April. As of April 15th, there was short interest totalling 254,500 shares, a decline of 15.7% from the March 31st total of 301,900 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 155,800 shares, the short-interest ratio is presently 1.6 days.

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $142.83, for a total value of $428,490.00. Following the completion of the sale, the chief executive officer now directly owns 59,643 shares of the company’s stock, valued at approximately $8,518,809.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC bought a new stake in Primerica in the 3rd quarter valued at $349,000. Brinker Capital Investments LLC bought a new position in Primerica in the third quarter valued at $869,000. Virtu Financial LLC lifted its position in Primerica by 10.6% during the 3rd quarter. Virtu Financial LLC now owns 3,864 shares of the financial services provider’s stock worth $437,000 after buying an additional 371 shares in the last quarter. Strs Ohio increased its position in shares of Primerica by 25.4% in the third quarter. Strs Ohio now owns 8,654 shares of the financial services provider’s stock valued at $979,000 after acquiring an additional 1,751 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Primerica by 216.6% in the fourth quarter. State of Alaska Department of Revenue now owns 21,341 shares of the financial services provider’s stock valued at $2,857,000 after purchasing an additional 14,600 shares in the last quarter. 89.00% of the stock is owned by institutional investors and hedge funds.

PRI has been the topic of several analyst reports. Morgan Stanley increased their price target on shares of Primerica from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, April 1st. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a research report on Tuesday, April 27th. Truist increased their price objective on Primerica from $165.00 to $188.00 in a research report on Tuesday, April 20th. Citigroup increased their target price on shares of Primerica from $130.00 to $140.00 in a research note on Wednesday, March 31st. Finally, Truist Securities boosted their price objective on Primerica from $165.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, April 26th. Five investment analysts have rated the stock with a buy rating, Primerica has an average rating of “Buy” and a consensus price target of $166.29.

Primerica stock traded down $0.27 during trading hours on Tuesday, reaching $161.50. 623 shares of the company’s stock traded hands, compared to its average volume of 151,179. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 17.40 and a beta of 1.44. The firm’s 50 day moving average is $154.19 and its 200-day moving average is $139.43. Primerica has a fifty-two week low of $95.00 and a fifty-two week high of $163.69.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Monday, February 8th. The financial services provider reported $2.45 EPS for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.04). The company had revenue of $594.72 million for the quarter, compared to analyst estimates of $583.43 million. Primerica had a return on equity of 23.65% and a net margin of 17.65%. During the same period last year, the firm earned $2.22 earnings per share. On average, analysts forecast that Primerica will post 9.78 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Monday, February 22nd were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.16%. This is a boost from Primerica’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, February 19th. Primerica’s payout ratio is presently 22.30%.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products to middle-income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.

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