Primerica (NYSE:PRI) President Sells $503,352.00 in Stock

Primerica, Inc. (NYSE:PRI) President Peter Schneider sold 1,800 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the completion of the transaction, the president directly owned 9,811 shares in the company, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Stock Down 0.1%

PRI opened at $280.77 on Friday. The stock has a market cap of $8.75 billion, a PE ratio of 11.77 and a beta of 0.91. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $288.03. The business’s fifty day simple moving average is $265.10 and its 200 day simple moving average is $261.15.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $5.45 by $0.51. The business had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.02 earnings per share. As a group, equities analysts anticipate that Primerica, Inc. will post 24.2 earnings per share for the current year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, May 21st. Primerica’s dividend payout ratio is currently 20.13%.

Analyst Ratings Changes

A number of research firms recently commented on PRI. Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. 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. 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. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Primerica in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Primerica currently has an average rating of “Hold” and an average price target of $297.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PRI. Vista Investment Partners II LLC bought a new stake in shares of Primerica in the fourth quarter worth about $1,685,000. First Trust Advisors LP grew its stake in shares of Primerica by 12.4% in the third quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock worth $136,597,000 after purchasing an additional 54,158 shares during the last quarter. M&T Bank Corp grew its stake in shares of Primerica by 1,155.8% in the fourth quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock worth $8,303,000 after purchasing an additional 29,578 shares during the last quarter. Prana Capital Management LP grew its stake in shares of Primerica by 22.8% in the third quarter. Prana Capital Management LP now owns 66,916 shares of the financial services provider’s stock worth $18,575,000 after purchasing an additional 12,432 shares during the last quarter. Finally, Moran Wealth Management LLC grew its stake in shares of Primerica by 168.6% in the fourth quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock worth $5,302,000 after purchasing an additional 12,881 shares during the last quarter. 90.88% of the stock is owned by 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.