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

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

Primerica Stock Performance

PRI stock opened at $304.46 on Wednesday. The company has a 50 day moving average price of $283.53 and a two-hundred day moving average price of $279.45. The stock has a market capitalization of $9.24 billion, a P/E ratio of 12.03 and a beta of 0.86. Primerica, Inc. has a one year low of $230.09 and a one year high of $327.28.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $6.77 earnings per share for the quarter, topping analysts’ consensus estimates of $6.40 by $0.37. Primerica had a return on equity of 30.90% and a net margin of 22.86%. The company had revenue of $901.82 million for the quarter, compared to analyst estimates of $901.00 million. During the same quarter in the prior year, the company posted $6.33 EPS. Research analysts forecast that Primerica, Inc. will post 25.34 earnings per share for the current fiscal year.

Primerica Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have issued reports on the company. TD Cowen raised their price target on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Truist Financial downgraded shares of Primerica from a “buy” rating to a “hold” rating and dropped their price objective for the company from $370.00 to $320.00 in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Primerica in a research note on Wednesday, November 4th. Keefe, Bruyette & Woods cut their price objective on shares of Primerica from $335.00 to $330.00 and set a “market perform” rating on the stock in a report on Friday, October 9th. Finally, Morgan Stanley raised their target price on shares of Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a research report on Monday, August 24th. Two equities research 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, the stock presently has a consensus rating of “Hold” and an average target price of $318.80.

Institutional Trading of Primerica

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Primerica in the 2nd quarter worth $848,161,000. Bamco Inc. NY purchased a new stake in Primerica during the second quarter valued at about $190,827,000. Dimensional Fund Advisors LP grew 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 acquiring an additional 7,628 shares during the period. First Trust Advisors LP grew its position in Primerica by 4.7% during the first quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider’s stock valued at $132,556,000 after acquiring an additional 23,850 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Primerica by 0.8% during the first quarter. Bank of New York Mellon Corp now owns 314,134 shares of the financial services provider’s stock worth $78,684,000 after acquiring an additional 2,382 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

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.