Primerica (NYSE:PRI) President Peter Schneider Sells 2,000 Shares of Stock

Primerica, Inc. (NYSE:PRI) President Peter Schneider sold 2,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $255.30, for a total transaction of $510,600.00. Following the completion of the sale, the president owned 7,301 shares of the company’s stock, valued at approximately $1,863,945.30. This represents a 21.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Primerica Stock Up 0.4%

Shares of NYSE PRI traded up $0.93 during midday trading on Monday, reaching $254.98. 234,998 shares of the company’s stock traded hands, compared to its average volume of 173,874. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 11.72 and a beta of 0.96. The stock’s 50 day simple moving average is $267.33 and its 200-day simple moving average is $267.13. Primerica, Inc. has a one year low of $230.98 and a one year high of $307.91.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share for the quarter, topping analysts’ consensus estimates of $5.52 by $0.81. The company had revenue of $838.88 million during the quarter, compared to analyst estimates of $817.81 million. Primerica had a return on equity of 31.75% and a net margin of 22.36%.Primerica’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.83 earnings per share. Equities analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, November 21st. Primerica’s dividend payout ratio is 19.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PRI shares. Zacks Research upgraded Primerica from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Piper Sandler set a $292.00 price target on shares of Primerica and gave the company a “neutral” rating in a report on Tuesday, October 7th. Jefferies Financial Group cut their price objective on shares of Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a research report on Monday, August 11th. Morgan Stanley decreased their target price on shares of Primerica from $306.00 to $301.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, BMO Capital Markets upgraded shares of Primerica from a “market perform” rating to an “outperform” rating and raised their target price for the company from $292.00 to $318.00 in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $309.00.

Hedge Funds Weigh In On Primerica

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Primerica by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider’s stock worth $994,048,000 after purchasing an additional 37,994 shares during the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of Primerica by 1.8% during the second quarter. Burgundy Asset Management Ltd. now owns 1,333,473 shares of the financial services provider’s stock worth $364,932,000 after buying an additional 23,454 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Primerica by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 613,329 shares of the financial services provider’s stock valued at $170,248,000 after buying an additional 2,525 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Primerica during the first quarter valued at $156,019,000. Finally, First Trust Advisors LP increased its position in shares of Primerica by 12.4% in the 3rd quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock valued at $136,597,000 after acquiring an additional 54,158 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

About Primerica

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.