William A. Kelly Sells 1,500 Shares of Primerica Inc. (PRI) Stock
Primerica Inc. (NYSE:PRI) insider William A. Kelly sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $71.49, for a total transaction of $107,235.00. Following the sale, the insider now owns 20,630 shares in the company, valued at approximately $1,474,838.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Primerica Inc. (NYSE:PRI) opened at 71.00 on Wednesday. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 16.36 and a beta of 1.02. Primerica Inc. has a one year low of $37.09 and a one year high of $73.05. The firm has a 50 day moving average of $60.49 and a 200-day moving average of $56.60.
Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 9th. The company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.09. The company earned $383.60 million during the quarter, compared to the consensus estimate of $378.67 million. Primerica had a net margin of 14.22% and a return on equity of 17.78%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. Equities research analysts forecast that Primerica Inc. will post $4.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, November 18th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.01%. The ex-dividend date is Wednesday, November 16th. Primerica’s dividend payout ratio is 16.59%.
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A number of analysts recently issued reports on the stock. Wells Fargo & Co. assumed coverage on shares of Primerica in a research report on Thursday, September 22nd. They set a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Primerica from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Saturday, November 12th. Finally, SunTrust Banks Inc. set a $83.00 price target on shares of Primerica and gave the company a “buy” rating in a report on Friday, November 11th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.33.
A number of hedge funds have recently bought and sold shares of PRI. Victory Capital Management Inc. increased its stake in Primerica by 498.6% in the third quarter. Victory Capital Management Inc. now owns 2,217,490 shares of the company’s stock valued at $117,593,000 after buying an additional 1,847,026 shares in the last quarter. Cantillon Capital Management LLC acquired a new stake in Primerica during the second quarter valued at approximately $63,579,000. Ruane Cunniff & Goldfarb Inc. increased its stake in Primerica by 31.2% in the second quarter. Ruane Cunniff & Goldfarb Inc. now owns 3,780,842 shares of the company’s stock valued at $216,415,000 after buying an additional 898,291 shares in the last quarter. Vanguard Group Inc. increased its stake in Primerica by 14.4% in the second quarter. Vanguard Group Inc. now owns 4,173,713 shares of the company’s stock valued at $238,904,000 after buying an additional 526,902 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in Primerica by 12.6% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,945,589 shares of the company’s stock valued at $209,235,000 after buying an additional 443,030 shares in the last quarter.
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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