Primerica (NYSE:PRI) CEO Glenn Williams Sells 1,500 Shares of Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn Williams sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $294.94, for a total value of $442,410.00. Following the transaction, the chief executive officer directly owned 25,221 shares in the company, valued at $7,438,681.74. This trade represents a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Stock Up 3.1%

Shares of Primerica stock opened at $299.66 on Tuesday. The company has a market cap of $9.22 billion, a PE ratio of 11.26 and a beta of 0.86. The business has a 50 day moving average of $283.18 and a 200 day moving average of $279.22. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $327.28.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $6.77 EPS for the quarter, topping analysts’ consensus estimates of $6.40 by $0.37. The company had revenue of $901.82 million during the quarter, compared to analyst estimates of $901.00 million. Primerica had a return on equity of 31.92% and a net margin of 22.86%. During the same quarter last year, the firm posted $6.33 earnings per share. On average, research analysts anticipate that Primerica, Inc. will post 25.22 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Friday, November 20th will be issued a $1.20 dividend. The ex-dividend date is Friday, November 20th. This represents a $4.80 annualized dividend and a yield of 1.6%. Primerica’s dividend payout ratio is 18.96%.

Institutional Investors Weigh In On Primerica

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Primerica in the second quarter worth $848,161,000. Bamco Inc. NY purchased a new position in Primerica during the second quarter valued at $190,827,000. Dimensional Fund Advisors LP lifted its position in Primerica by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider’s stock valued at $162,950,000 after buying an additional 7,628 shares during the period. First Trust Advisors LP boosted its holdings in shares of Primerica by 4.7% during the 1st quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider’s stock valued at $132,556,000 after buying an additional 23,850 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Primerica during the 2nd quarter valued at $79,044,000. 90.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Primerica from $335.00 to $330.00 and set a “market perform” rating for the company in a research report on Friday, October 9th. Truist Financial cut shares of Primerica from a “buy” rating to a “hold” rating and reduced their price target for the company from $370.00 to $320.00 in a research report on Thursday, August 27th. TD Cowen increased their price target on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Morgan Stanley increased their price target on shares of Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a research note on Monday, August 24th. Finally, Weiss Ratings lowered shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $318.80.

Primerica Company Profile

Primerica, Inc provides financial products and services to middle-income households in the United States and Canada. Its core business is term life insurance, which it distributes through a network of representatives who work directly with clients.

Through its investment and savings businesses, Primerica offers products and services including mutual funds, annuities, managed investment accounts, and retirement planning solutions. It also connects clients with certain third-party providers of products such as auto and homeowners insurance.

The company traces its roots to A.L.