Peter Schneider Sells 1,800 Shares of Primerica (NYSE:PRI) Stock

Primerica, Inc. (NYSE:PRI) President Peter Schneider sold 1,800 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $312.65, for a total transaction of $562,770.00. Following the completion of the sale, the president directly owned 8,011 shares in the company, valued at approximately $2,504,639.15. This represents a 18.35% decrease in their ownership of the stock. The transaction 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 Stock Down 0.6%

PRI opened at $308.20 on Wednesday. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $327.28. The company has a fifty day moving average of $302.22 and a 200-day moving average of $277.39. The stock has a market cap of $9.49 billion, a PE ratio of 12.38 and a beta of 0.87.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38. The business had revenue of $865.07 million during the quarter, compared to the consensus estimate of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. Primerica’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $5.46 earnings per share. Sell-side analysts anticipate that Primerica, Inc. will post 25.02 EPS for the current fiscal year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 21st will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. Primerica’s dividend payout ratio (DPR) is 19.28%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PRI. TD Cowen upped 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. Weiss Ratings downgraded Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods lifted their target price on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a report on Tuesday, August 11th. Jefferies Financial Group boosted their price target on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Finally, Morgan Stanley increased their price target on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $310.67.

Hedge Funds Weigh In On Primerica

Institutional investors have recently made changes to their positions in the stock. C M Bidwell & Associates Ltd. acquired a new stake in shares of Primerica in the 2nd quarter valued at about $29,000. SJS Investment Consulting Inc. boosted its holdings in Primerica by 176.2% in the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 74 shares in the last quarter. Root Financial Partners LLC boosted its holdings in Primerica by 52.6% in the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 61 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Primerica by 68.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 73 shares during the period. Finally, Torren Management LLC acquired a new stake in Primerica in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

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.