Primerica (NYSE:PRI) CEO Glenn Williams Sells 2,500 Shares

Primerica, Inc. (NYSE:PRI) CEO Glenn Williams sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total value of $641,025.00. Following the sale, the chief executive officer directly owned 27,392 shares in the company, valued at approximately $7,023,582.72. This trade represents a 8.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Primerica Trading Up 3.3%

NYSE:PRI opened at $259.07 on Wednesday. The stock’s 50-day moving average is $260.90 and its 200-day moving average is $263.50. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $296.00. The stock has a market cap of $8.27 billion, a P/E ratio of 11.30 and a beta of 0.91.

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

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, February 23rd will be paid a $1.20 dividend. This is an increase from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, February 23rd. Primerica’s payout ratio is presently 20.93%.

Primerica announced that its Board of Directors has approved a stock buyback plan on Wednesday, November 19th that authorizes the company to repurchase $475.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Primerica

A number of large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC increased its holdings in shares of Primerica by 20.6% in the first quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock worth $609,000 after buying an additional 366 shares during the period. Goldman Sachs Group Inc. grew its position in Primerica by 27.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock worth $36,894,000 after acquiring an additional 28,129 shares during the last quarter. Empowered Funds LLC bought a new stake in Primerica in the first quarter valued at approximately $1,763,000. Focus Partners Wealth boosted its stake in shares of Primerica by 17.5% during the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 208 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Primerica by 205.8% in the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 177 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PRI shares. Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Morgan Stanley set a $292.00 target price on Primerica in a research report on Monday, December 15th. Keefe, Bruyette & Woods decreased their price objective 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. Zacks Research raised shares of Primerica from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Finally, TD Cowen reissued a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $300.00.

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.