Insider Selling: Primerica (NYSE:PRI) President Sells 1,800 Shares of Stock

Primerica, Inc. (NYSE:PRI) President Peter Schneider sold 1,800 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total transaction of $454,284.00. Following the completion of the sale, the president owned 11,611 shares of the company’s stock, valued at $2,930,384.18. This trade represents a 13.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Primerica Trading Up 0.7%

Shares of Primerica stock traded up $1.76 on Tuesday, reaching $254.53. 192,010 shares of the stock were exchanged, compared to its average volume of 224,211. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $296.00. The business has a fifty day moving average price of $260.53 and a two-hundred day moving average price of $262.99. The firm has a market capitalization of $8.06 billion, a PE ratio of 11.10 and a beta of 0.92.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, beating analysts’ consensus estimates of $5.69 by $0.44. The firm had revenue of $853.51 million during the quarter, compared to the consensus estimate of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $5.03 earnings per share. Research analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be given a $1.20 dividend. The ex-dividend date is Monday, February 23rd. This is a positive change from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a yield of 1.9%. Primerica’s dividend payout ratio (DPR) is currently 20.93%.

Primerica announced that its board has approved a share repurchase plan on Wednesday, November 19th that allows the company to repurchase $475.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 5.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently commented on PRI shares. Morgan Stanley reduced their price objective on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 3rd. TD Cowen restated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Finally, Keefe, Bruyette & Woods decreased their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $298.60.

Hedge Funds Weigh In On Primerica

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRI. Root Financial Partners LLC acquired a new stake in shares of Primerica during the third quarter valued at $27,000. Smartleaf Asset Management LLC boosted its stake in shares of 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. V Square Quantitative Management LLC purchased a new stake in shares of Primerica during the fourth quarter worth about $30,000. Quent Capital LLC acquired a new position in shares of Primerica in the third quarter valued at approximately $33,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Primerica by 1,714.3% during the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock valued at $35,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

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.