Primerica Inc. (PRI) Insider William A. Kelly Sells 1,500 Shares
Primerica Inc. (NYSE:PRI) insider William A. Kelly sold 1,500 shares of the business’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $57.11, for a total value of $85,665.00. Following the sale, the insider now directly owns 23,630 shares of the company’s stock, valued at approximately $1,349,509.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Primerica Inc. (NYSE:PRI) opened at 54.09 on Wednesday. Primerica Inc. has a 52 week low of $37.09 and a 52 week high of $59.34. The firm has a market cap of $2.51 billion, a PE ratio of 13.20 and a beta of 0.80. The firm’s 50 day moving average price is $56.21 and its 200-day moving average price is $52.73.
Primerica (NYSE:PRI) last announced its quarterly earnings data on Monday, August 8th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.13. Primerica had a return on equity of 17.32% and a net margin of 13.90%. The company earned $379.24 million during the quarter, compared to the consensus estimate of $370.76 million. During the same quarter in the prior year, the firm earned $0.93 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts forecast that Primerica Inc. will post $4.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Wednesday, August 24th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Monday, August 22nd. This is an increase from Primerica’s previous quarterly dividend of $0.17. Primerica’s dividend payout ratio is 17.56%.
Several large investors have recently made changes to their positions in PRI. LS Investment Advisors LLC increased its stake in shares of Primerica by 72.9% in the second quarter. LS Investment Advisors LLC now owns 2,853 shares of the company’s stock worth $163,000 after buying an additional 1,203 shares during the period. Huntington National Bank increased its stake in shares of Primerica by 4.2% in the second quarter. Huntington National Bank now owns 2,969 shares of the company’s stock worth $170,000 after buying an additional 119 shares during the period. Calvert Investment Management Inc. bought a new stake in shares of Primerica during the second quarter worth approximately $200,000. M&T Bank Corp increased its stake in shares of Primerica by 5.7% in the first quarter. M&T Bank Corp now owns 4,613 shares of the company’s stock worth $205,000 after buying an additional 247 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Primerica during the second quarter worth approximately $207,000.
A number of research firms have issued reports on PRI. Wells Fargo & Co. began coverage on Primerica in a research report on Thursday, September 22nd. They set a “market perform” rating for the company. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Friday, August 12th. Finally, Keefe, Bruyette & Woods downgraded Primerica from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $58.00 to $60.00 in a research report on Tuesday, July 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $61.50.
Primerica Company Profile
Primerica Inc (Primerica) distributes financial products to middle-income households. The Company operates through three segments. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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