Insider Selling: Primerica (NYSE:PRI) CEO Sells $649,125.00 in Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn Williams sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $259.65, for a total value of $649,125.00. Following the completion of the transaction, the chief executive officer owned 33,892 shares of the company’s stock, valued at $8,800,057.80. The trade was a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Primerica Price Performance

Primerica stock opened at $253.97 on Friday. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $307.91. The firm’s 50 day moving average price is $267.33 and its 200-day moving average price is $267.08. The stock has a market cap of $8.11 billion, a P/E ratio of 11.67 and a beta of 0.96.

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, beating the consensus estimate of $5.52 by $0.81. The company had revenue of $838.88 million during the quarter, compared to analysts’ expectations of $817.81 million. Primerica had a net margin of 22.36% and a return on equity of 31.75%. Primerica’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $4.83 earnings per share. As a group, equities analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 21st will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, November 21st. Primerica’s payout ratio is 19.12%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. M&T Bank Corp lifted its holdings in shares of Primerica by 4.1% in the 1st quarter. M&T Bank Corp now owns 2,881 shares of the financial services provider’s stock worth $820,000 after acquiring an additional 113 shares during the last quarter. Cerity Partners LLC grew its holdings in Primerica by 21.7% during the 1st quarter. Cerity Partners LLC now owns 5,201 shares of the financial services provider’s stock valued at $1,480,000 after purchasing an additional 927 shares during the last quarter. Xponance Inc. raised its position in Primerica by 1.2% in the 1st quarter. Xponance Inc. now owns 3,945 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 47 shares during the period. CWM LLC lifted its stake in Primerica by 57.4% in the first quarter. CWM LLC now owns 5,092 shares of the financial services provider’s stock worth $1,449,000 after purchasing an additional 1,857 shares during the last quarter. Finally, MQS Management LLC purchased a new position in shares of Primerica during the first quarter valued at approximately $243,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods decreased their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Tuesday. Piper Sandler set a $292.00 price objective on Primerica and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Primerica in a report on Wednesday, October 8th. Jefferies Financial Group decreased their price target on shares of Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a research note on Monday, August 11th. Finally, Morgan Stanley dropped their price objective on shares of Primerica from $308.00 to $306.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. One equities 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 stock. Based on data from MarketBeat, Primerica presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.83.

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.