Insider Selling: Primerica (NYSE:PRI) CEO 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 dated Monday, August 10th. The shares were sold at an average price of $320.20, for a total transaction of $480,300.00. Following the completion of the sale, the chief executive officer directly owned 32,196 shares of the company’s stock, valued at $10,309,159.20. This represents a 4.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Price Performance

Primerica stock traded down $7.94 during mid-day trading on Monday, reaching $313.44. 216,845 shares of the company were exchanged, compared to its average volume of 206,099. The company has a fifty day simple moving average of $295.47 and a 200-day simple moving average of $274.77. The firm has a market cap of $9.77 billion, a PE ratio of 12.59 and a beta of 0.87. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $327.28.

Primerica (NYSE:PRI) last announced its quarterly earnings data 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 firm had revenue of $865.07 million for the quarter, compared to the consensus estimate of $881.00 million. During the same period in the prior year, the company posted $5.46 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts anticipate that Primerica, Inc. will post 24.7 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be paid a dividend of $1.20 per share. The ex-dividend date is Friday, August 21st. This represents a $4.80 annualized dividend and a yield of 1.5%. Primerica’s dividend payout ratio is presently 19.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Weiss Ratings raised shares of Primerica from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, July 24th. Jefferies Financial Group lifted their price target on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Morgan Stanley upped their price objective on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Finally, TD Cowen increased their price objective 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. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $308.67.

Hedge Funds Weigh In On Primerica

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Primerica during the 2nd quarter worth approximately $848,161,000. Bank of Montreal Can increased its position in Primerica by 5,277.5% in the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after acquiring an additional 1,287,243 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Primerica during the second quarter valued at $79,044,000. Invesco Ltd. raised its stake in shares of Primerica by 200.3% during the fourth quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock valued at $92,414,000 after acquiring an additional 238,571 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd acquired a new position in shares of Primerica during the fourth quarter worth $40,714,000. 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.