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

Primerica, Inc. (NYSE:PRI) President Peter Schneider sold 1,800 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total value of $454,284.00. Following the completion of the transaction, the president owned 11,611 shares of the company’s stock, valued at $2,930,384.18. This trade represents a 13.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Primerica Trading Up 0.7%

Shares of Primerica stock traded up $1.76 during trading hours on Tuesday, reaching $254.53. 192,010 shares of the company’s stock were exchanged, compared to its average volume of 224,211. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $296.00. The company has a fifty day moving average of $260.53 and a 200-day moving average of $262.99. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 11.10 and a beta of 0.92.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, beating analysts’ consensus estimates of $5.69 by $0.44. The business had revenue of $853.51 million during the quarter, compared to the consensus estimate of $839.65 million. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.03 earnings per share. On average, equities research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica announced that its board has approved a stock repurchase plan on Wednesday, November 19th that allows the company to repurchase $475.00 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be issued a $1.20 dividend. This is a positive change from Primerica’s previous quarterly dividend of $1.04. The ex-dividend date is Monday, February 23rd. This represents a $4.80 annualized dividend and a yield of 1.9%. Primerica’s dividend payout ratio (DPR) is presently 20.93%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PRI. Bank of Montreal Can grew its stake in shares of 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 valued at $338,874,000 after buying an additional 1,287,243 shares in the last quarter. Invesco Ltd. lifted its position in Primerica by 200.3% during the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after acquiring an additional 238,571 shares in the last quarter. Nordea Investment Management AB acquired a new position in Primerica during the 3rd quarter worth approximately $51,004,000. Life Cycle Investment Partners Ltd purchased a new position in Primerica in the 4th quarter worth approximately $40,714,000. Finally, Millennium Management LLC boosted its holdings in Primerica by 183.3% in the 4th quarter. Millennium Management LLC now owns 212,196 shares of the financial services provider’s stock worth $54,823,000 after acquiring an additional 137,297 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PRI. Morgan Stanley decreased their target price on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods cut their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. TD Cowen restated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Finally, Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $298.60.

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.