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

Primerica, Inc. (NYSE:PRI) CEO Glenn Williams sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $320.20, for a total value of $480,300.00. Following the sale, the chief executive officer directly owned 32,196 shares of the company’s stock, valued at $10,309,159.20. The trade was a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Price Performance

Shares of PRI opened at $312.93 on Wednesday. The firm has a 50-day simple moving average of $297.46 and a two-hundred day simple moving average of $275.51. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $327.28. The stock has a market cap of $9.63 billion, a PE ratio of 12.57 and a beta of 0.87.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $881.00 million. During the same quarter last year, the firm earned $5.46 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, sell-side analysts expect that Primerica, Inc. will post 24.85 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend 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%.

Hedge Funds Weigh In On Primerica

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Primerica during the second quarter worth approximately $848,161,000. Bank of Montreal Can lifted its stake in Primerica by 5,277.5% in the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after acquiring an additional 1,287,243 shares during the last quarter. Geode Capital Management LLC grew its holdings in Primerica by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock worth $205,011,000 after acquiring an additional 37,014 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Primerica by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider’s stock worth $162,950,000 after acquiring an additional 7,628 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Primerica by 4.7% in the 1st quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider’s stock valued at $132,556,000 after purchasing an additional 23,850 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PRI has been the subject of several research reports. TD Cowen lifted their target price on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Morgan Stanley raised their price objective on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a report on Tuesday. Weiss Ratings raised shares of Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, July 24th. Finally, Jefferies Financial Group increased their target price on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $310.67.

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.