Primerica (NYSE:PRI) CEO Sells $442,410.00 in Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn Williams sold 1,500 shares of the company’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $294.94, for a total transaction of $442,410.00. Following the transaction, the chief executive officer directly owned 25,221 shares in the company, valued at approximately $7,438,681.74. This trade represents a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Stock Down 2.7%

Shares of NYSE PRI opened at $296.01 on Thursday. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $327.28. The firm has a 50-day moving average price of $283.65 and a 200 day moving average price of $279.66. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 11.70 and a beta of 0.86.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $6.77 EPS for the quarter, topping the consensus estimate of $6.40 by $0.37. Primerica had a return on equity of 30.90% and a net margin of 22.86%. The business had revenue of $901.82 million for the quarter, compared to analyst estimates of $901.00 million. During the same quarter in the previous year, the company earned $6.33 EPS. Equities research analysts expect that Primerica, Inc. will post 25.34 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Friday, November 20th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, November 20th. Primerica’s dividend payout ratio is presently 18.96%.

Analyst Upgrades and Downgrades

PRI has been the topic of several recent research reports. Truist Financial downgraded shares of Primerica from a “buy” rating to a “hold” rating and reduced their price target for the company from $370.00 to $320.00 in a report on Thursday, August 27th. Keefe, Bruyette & Woods cut their target price on shares of Primerica from $335.00 to $330.00 and set a “market perform” rating for the company in a research note on Friday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Primerica in a report on Wednesday, November 4th. TD Cowen boosted their price objective on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley lifted their target price on shares of Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a research note on Monday, August 24th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Primerica has an average rating of “Hold” and a consensus price target of $318.80.

Institutional Trading of Primerica

Institutional investors and hedge funds have recently bought and sold shares of the business. Crossmark Global Holdings Inc. increased its holdings in Primerica by 125.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 21,078 shares of the financial services provider’s stock valued at $5,741,000 after purchasing an additional 11,731 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Primerica in the second quarter valued at about $848,161,000. Bank of America Corp DE purchased a new stake in shares of Primerica during the 2nd quarter valued at about $26,769,000. Squarepoint Ops LLC boosted its holdings in Primerica by 51.2% in the 2nd quarter. Squarepoint Ops LLC now owns 28,570 shares of the financial services provider’s stock worth $8,120,000 after acquiring an additional 9,678 shares during the period. Finally, KBC Group NV lifted its position in shares of Primerica by 2,664.8% during the first quarter. KBC Group NV now owns 24,496 shares of the financial services provider’s stock worth $6,136,000 after purchasing an additional 23,610 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

About Primerica

Primerica, Inc. provides financial products and services to middle-income households in the United States and Canada. Its core business is term life insurance, which it distributes through a network of representatives who work directly with clients. Through its investment and savings businesses, Primerica offers products and services including mutual funds, annuities, managed investment accounts, and retirement planning solutions. It also connects clients with certain third-party providers of products such as auto and homeowners insurance.