Primerica (NYSE:PRI) Director Sells $87,502.77 in Stock

Primerica, Inc. (NYSE:PRI) Director Amber Lynne Cottle sold 279 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the sale, the director directly owned 3,549 shares in the company, valued at approximately $1,113,072.87. This represents a 7.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Primerica Stock Performance

Shares of NYSE PRI traded down $0.59 during trading on Tuesday, reaching $312.93. The company had a trading volume of 148,379 shares, compared to its average volume of 205,750. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $327.28. The stock has a market cap of $9.76 billion, a PE ratio of 12.57 and a beta of 0.87. The business’s 50 day moving average price is $296.40 and its 200-day moving average price is $275.14.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The company had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. During the same period in the prior year, the business earned $5.46 earnings per share. Primerica’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts anticipate that Primerica, Inc. will post 24.7 earnings per share for the current year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 21st. Primerica’s dividend payout ratio (DPR) is presently 19.28%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Primerica in the 2nd quarter worth $848,161,000. Bank of Montreal Can increased its holdings in Primerica by 5,277.5% in the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after purchasing an additional 1,287,243 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Primerica in the second quarter valued at about $79,044,000. Invesco Ltd. lifted its stake in Primerica by 200.3% in the fourth quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock valued at $92,414,000 after buying an additional 238,571 shares during the period. Finally, Life Cycle Investment Partners Ltd acquired a new position in Primerica in the fourth quarter valued at about $40,714,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PRI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research report on Tuesday. Jefferies Financial Group lifted their price objective on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Weiss Ratings upgraded shares of Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, July 24th. TD Cowen raised their target price on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Morgan Stanley raised their target price on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Primerica presently has an average rating of “Hold” and an average target price of $310.67.

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.