Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams Sells 3,000 Shares

Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Primerica Trading Down 0.6 %

Shares of PRI stock opened at $280.59 on Thursday. The company has a 50 day simple moving average of $282.03 and a two-hundred day simple moving average of $276.56. The stock has a market cap of $9.36 billion, a P/E ratio of 20.41 and a beta of 1.11. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. As a group, equities analysts forecast that Primerica, Inc. will post 20.53 earnings per share for the current year.

Primerica announced that its board has approved a share repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a dividend of $1.04 per share. The ex-dividend date is Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. Primerica’s payout ratio is 30.25%.

Hedge Funds Weigh In On Primerica

Large investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its position in shares of Primerica by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 36 shares during the period. Mariner LLC raised its holdings in Primerica by 1.4% during the fourth quarter. Mariner LLC now owns 2,611 shares of the financial services provider’s stock valued at $709,000 after acquiring an additional 36 shares during the period. Creative Planning raised its holdings in Primerica by 0.7% during the third quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $1,613,000 after acquiring an additional 40 shares during the period. Kingsview Wealth Management LLC lifted its position in shares of Primerica by 0.7% in the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after acquiring an additional 43 shares in the last quarter. Finally, Dana Investment Advisors Inc. boosted its stake in shares of Primerica by 1.2% in the fourth quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock worth $1,012,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PRI. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Truist Financial boosted their target price on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Piper Sandler dropped their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. TD Cowen boosted their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, BMO Capital Markets began coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $311.14.

Primerica Company Profile

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.