Amber Lynne Cottle Sells 279 Shares of Primerica (NYSE:PRI) Stock

Primerica, Inc. (NYSE:PRI) Director Amber Lynne Cottle sold 279 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total value of $87,502.77. Following the sale, the director directly owned 3,549 shares of the company’s stock, valued at $1,113,072.87. The trade was a 7.29% 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 Down 0.8%

Shares of Primerica stock opened at $310.18 on Thursday. The business’s fifty day simple moving average is $298.56 and its 200 day simple moving average is $275.87. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $327.28. The firm has a market capitalization of $9.55 billion, a P/E ratio of 12.46 and a beta of 0.87.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The firm had revenue of $865.07 million during the quarter, compared to the consensus estimate of $881.00 million. During the same quarter in the prior year, the company earned $5.46 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts predict that Primerica, Inc. will post 24.85 EPS for the current fiscal year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be paid a $1.20 dividend. The ex-dividend date is Friday, August 21st. This represents a $4.80 annualized dividend and a yield of 1.5%. Primerica’s dividend payout ratio is presently 19.28%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRI. Jefferies Financial Group boosted their target price on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods lifted their price objective on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a report on Tuesday. TD Cowen upped their price objective on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Morgan Stanley lifted their target price on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Finally, Weiss Ratings cut shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $310.67.

Institutional Trading of Primerica

A number of large investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Primerica in the second quarter worth approximately $848,161,000. Bank of Montreal Can lifted its position in Primerica by 5,277.5% during 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 purchasing an additional 1,287,243 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Primerica in the 2nd quarter worth approximately $79,044,000. Invesco Ltd. grew its stake in Primerica by 200.3% in the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after buying an additional 238,571 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new position in shares of Primerica in the 4th quarter worth $40,714,000. Institutional investors 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.