Primerica (NYSE:PRI) CEO Glenn Williams Sells 1,500 Shares

Primerica, Inc. (NYSE:PRI) CEO Glenn Williams sold 1,500 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $280.49, for a total value of $420,735.00. Following the completion of the transaction, the chief executive officer directly owned 33,696 shares of the company’s stock, valued at $9,451,391.04. This represents a 4.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Stock Down 0.5%

Shares of NYSE:PRI traded down $1.54 during trading on Monday, hitting $280.47. The stock had a trading volume of 184,821 shares, compared to its average volume of 207,840. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $288.03. The company has a market capitalization of $8.74 billion, a PE ratio of 11.76 and a beta of 0.88. The firm’s fifty day moving average is $271.75 and its 200 day moving average is $262.68.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, beating analysts’ consensus estimates of $5.45 by $0.51. The company had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $5.02 EPS. Equities research analysts expect that Primerica, Inc. will post 24.45 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date was Thursday, May 21st. Primerica’s dividend payout ratio (DPR) is currently 20.13%.

Analysts Set New Price Targets

PRI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their target price on Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Zacks Research downgraded Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings upgraded Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Finally, Morgan Stanley increased their target price on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and an average price target of $297.80.

Hedge Funds Weigh In On Primerica

Institutional investors and hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in shares of Primerica by 186.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after buying an additional 69 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Primerica in the 4th quarter worth $30,000. SJS Investment Consulting Inc. boosted its stake in shares of Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after buying an additional 74 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of Primerica by 52.6% in the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after buying an additional 61 shares during the last quarter. Finally, Torren Management LLC purchased a new position in shares of Primerica in the 4th quarter worth $50,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Company Profile

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.