Primerica (NYSE:PRI) President Peter Schneider Sells 1,800 Shares

Primerica, Inc. (NYSE:PRI) President Peter Schneider sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total value of $454,284.00. Following the completion of the sale, the president owned 11,611 shares in the company, valued at approximately $2,930,384.18. This represents a 13.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Primerica Price Performance

NYSE:PRI opened at $254.53 on Wednesday. The company has a 50 day moving average price of $260.41 and a 200-day moving average price of $262.88. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $296.00. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 11.10 and a beta of 0.92.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.69 by $0.44. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The firm had revenue of $853.51 million for the quarter, compared to the consensus estimate of $839.65 million. During the same period in the prior year, the firm posted $5.03 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be given a dividend of $1.20 per share. This is a boost from Primerica’s previous quarterly dividend of $1.04. The ex-dividend date is Monday, February 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. Primerica’s payout ratio is 20.93%.

Primerica declared that its Board of Directors has authorized a stock buyback plan on Wednesday, November 19th that allows the company to repurchase $475.00 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Primerica

A number of large investors have recently made changes to their positions in PRI. Bank of Montreal Can boosted its stake in Primerica by 5,277.5% during the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after buying an additional 1,287,243 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Primerica by 200.3% during the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after acquiring an additional 238,571 shares during the period. Nordea Investment Management AB acquired a new position in shares of Primerica during the 3rd quarter valued at about $51,004,000. Life Cycle Investment Partners Ltd purchased a new stake in shares of Primerica in the fourth quarter valued at about $40,714,000. Finally, Millennium Management LLC grew its holdings in shares of Primerica by 183.3% in the fourth quarter. Millennium Management LLC now owns 212,196 shares of the financial services provider’s stock valued at $54,823,000 after purchasing an additional 137,297 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PRI shares. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Morgan Stanley cut their price target on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings raised shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Tuesday, November 11th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $298.60.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.