Primerica (NYSE:PRI) CEO Sells $420,735.00 in Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn Williams sold 1,500 shares of Primerica stock in a transaction on Friday, June 12th. The shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the transaction, the chief executive officer owned 33,696 shares in the company, valued at $9,451,391.04. This trade represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Stock Down 0.5%

PRI traded down $1.54 during midday trading on Monday, reaching $280.47. The company had a trading volume of 184,821 shares, compared to its average volume of 207,840. The business has a 50-day moving average of $271.75 and a two-hundred day moving average of $262.68. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $288.03. The company has a market cap of $8.74 billion, a P/E ratio of 11.76 and a beta of 0.88.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping the consensus estimate of $5.45 by $0.51. The firm had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $5.02 earnings per share. On average, equities research analysts predict that Primerica, Inc. will post 24.45 EPS for the current year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, May 21st. Primerica’s dividend payout ratio is presently 20.13%.

Institutional Investors Weigh In On Primerica

Several large investors have recently made changes to their positions in PRI. Integrated Wealth Concepts LLC increased its holdings in shares of Primerica by 20.6% in the first quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 366 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Primerica by 27.7% in the first quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock worth $36,894,000 after purchasing an additional 28,129 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Primerica in the first quarter worth about $1,763,000. Focus Partners Wealth increased its holdings in shares of Primerica by 17.5% in the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 208 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Primerica by 205.8% in the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 177 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PRI shares. Keefe, Bruyette & Woods increased their target price on Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Morgan Stanley lifted their target price on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Weiss Ratings raised Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Finally, Zacks Research downgraded Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $297.80.

About Primerica

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.