Primerica (NYSE:PRI) CEO Sells $420,735.00 in Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn Williams sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the transaction, the chief executive officer owned 33,696 shares in the company, valued at approximately $9,451,391.04. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Stock Down 0.4%

Primerica stock opened at $281.72 on Thursday. The firm has a market cap of $8.78 billion, a PE ratio of 11.81 and a beta of 0.88. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $288.03. The company’s 50 day moving average is $273.44 and its two-hundred day moving average is $263.16.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. The company had revenue of $872.30 million for the quarter, compared to analyst estimates of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $5.02 EPS. On average, equities research analysts anticipate that Primerica, Inc. will post 24.45 earnings per share for the current fiscal year.

Primerica Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PRI. Smartleaf Asset Management LLC grew its position in Primerica by 186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 69 shares during the last quarter. SJS Investment Consulting Inc. grew its position in Primerica by 176.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 74 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Primerica during the 4th quarter worth $30,000. Root Financial Partners LLC grew its position in Primerica by 52.6% during the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 61 shares during the last quarter. Finally, Steph & Co. grew its position in Primerica by 38.0% during the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 54 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Zacks Research downgraded shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley increased their target price on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $297.80.

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.