Glenn J. Williams Sells 3,000 Shares of Primerica, Inc. (PRI) Stock
Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $80.68, for a total transaction of $242,040.00. Following the completion of the sale, the chief executive officer now owns 77,895 shares in the company, valued at $6,284,568.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Primerica, Inc. (PRI) traded down 3.58% during mid-day trading on Thursday, reaching $76.85. 353,819 shares of the company’s stock traded hands. The firm has a 50 day moving average of $79.20 and a 200 day moving average of $79.22. The firm has a market cap of $3.45 billion, a PE ratio of 15.65 and a beta of 1.14. Primerica, Inc. has a 1-year low of $52.50 and a 1-year high of $86.45.
Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Primerica had a net margin of 14.41% and a return on equity of 18.48%. The business had revenue of $413.70 million for the quarter, compared to the consensus estimate of $410.97 million. During the same period in the prior year, the company posted $1.23 earnings per share. Primerica’s revenue was up 9.2% compared to the same quarter last year. Analysts forecast that Primerica, Inc. will post $5.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This is an increase from Primerica’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.04%. Primerica’s dividend payout ratio is 15.51%.
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PRI has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $81.00 price target on shares of Primerica in a research report on Friday, May 12th. Wells Fargo & Company lowered shares of Primerica from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 20th. William Blair lowered shares of Primerica from an “outperform” rating to a “market perform” rating in a research report on Friday, April 21st. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $83.75.
Institutional investors have recently added to or reduced their stakes in the stock. Mountain Capital Investment Advisors Inc acquired a new position in Primerica during the second quarter valued at approximately $125,000. James Investment Research Inc. purchased a new stake in shares of Primerica during the first quarter worth about $152,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Primerica by 13.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock worth $158,000 after buying an additional 242 shares during the last quarter. Flinton Capital Management LLC increased its stake in shares of Primerica by 69.5% in the second quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock worth $169,000 after buying an additional 912 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its stake in shares of Primerica by 68.7% in the second quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock worth $192,000 after buying an additional 1,030 shares during the last quarter. Institutional investors and hedge funds own 96.76% of the company’s stock.
Primerica Company Profile
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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