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

Primerica, Inc. (NYSE:PRI) 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:PRI) 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.

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

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.