Primerica (NYSE:PRI) Director Sells $87,502.77 in Stock

Primerica, Inc. (NYSE:PRI) Director Amber Lynne Cottle sold 279 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total value of $87,502.77. Following the completion of the sale, the director owned 3,549 shares of the company’s stock, valued at approximately $1,113,072.87. This represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Primerica Stock Up 0.5%

PRI stock opened at $312.40 on Friday. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $327.28. The stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of 12.55 and a beta of 0.87. The firm’s fifty day simple moving average is $299.63 and its two-hundred day simple moving average is $276.27.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38. The firm had revenue of $865.07 million during the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $5.46 EPS. As a group, equities research analysts expect that Primerica, Inc. will post 24.85 EPS for the current year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 21st. Primerica’s payout ratio is 19.28%.

Wall Street Analysts Forecast Growth

PRI has been the topic of several recent analyst reports. TD Cowen increased their price target on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Morgan Stanley boosted their price objective on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Jefferies Financial Group upped their price objective on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods increased their target price on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, Weiss Ratings downgraded Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $310.67.

Institutional Trading of Primerica

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Primerica in the second quarter worth approximately $848,161,000. Bank of Montreal Can raised its position in Primerica by 5,277.5% during the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after purchasing an additional 1,287,243 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Primerica during the 2nd quarter valued at $79,044,000. Invesco Ltd. lifted its holdings in shares of Primerica by 200.3% in the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after buying an additional 238,571 shares during the period. Finally, Life Cycle Investment Partners Ltd bought a new position in shares of Primerica during the 4th quarter worth $40,714,000. Institutional investors own 90.88% of the company’s stock.

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.