Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams Sells 3,000 Shares

Primerica, Inc. (NYSE:PRIGet Free Report) CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Primerica Stock Performance

Shares of PRI opened at $253.23 on Wednesday. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $256.56. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 15.41 and a beta of 1.09. The business’s fifty day moving average is $239.89 and its 200-day moving average is $236.63.

Primerica (NYSE:PRIGet Free Report) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.24. The business had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. Primerica’s revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted $3.99 earnings per share. As a group, research analysts forecast that Primerica, Inc. will post 17.73 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Wednesday, August 21st will be issued a dividend of $0.90 per share. The ex-dividend date is Wednesday, August 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a dividend yield of 1.42%. Primerica’s payout ratio is 21.91%.

Wall Street Analyst Weigh In

PRI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Truist Financial raised their price objective on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Jefferies Financial Group upped their target price on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Morgan Stanley cut their price objective on shares of Primerica from $245.00 to $243.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $266.75.

Check Out Our Latest Research Report on PRI

Hedge Funds Weigh In On Primerica

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRI. Norges Bank acquired a new position in shares of Primerica during the fourth quarter worth $31,194,000. Los Angeles Capital Management LLC increased its holdings in Primerica by 47.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock worth $25,840,000 after purchasing an additional 40,647 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Primerica in the second quarter valued at about $71,000. Dimensional Fund Advisors LP raised its position in Primerica by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock valued at $150,880,000 after purchasing an additional 21,836 shares during the last quarter. Finally, Granite Investment Partners LLC acquired a new stake in shares of Primerica during the second quarter valued at about $4,555,000. Institutional investors own 90.88% of the company’s stock.

Primerica Company Profile

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Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.

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