Insider Selling: Primerica (NYSE:PRI) CEO Sells $641,025.00 in Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn Williams sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total value of $641,025.00. Following the completion of the sale, the chief executive officer owned 27,392 shares of the company’s stock, valued at approximately $7,023,582.72. This represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Primerica Stock Performance

PRI stock opened at $257.18 on Friday. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $296.00. The stock’s 50 day simple moving average is $261.03 and its 200 day simple moving average is $263.43. The company has a market cap of $8.21 billion, a P/E ratio of 11.22 and a beta of 0.91.

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

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, February 23rd. This is a positive change from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a yield of 1.9%. Primerica’s dividend payout ratio is currently 18.14%.

Primerica declared that its board has authorized a share repurchase plan on Wednesday, November 19th that allows the company to repurchase $475.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently weighed in on PRI shares. Morgan Stanley set a $292.00 price target on shares of Primerica in a research report on Monday, December 15th. Zacks Research raised Primerica from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. TD Cowen restated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Finally, Keefe, Bruyette & Woods lowered their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.00.

Hedge Funds Weigh In On Primerica

Several institutional investors have recently modified their holdings of PRI. Burgundy Asset Management Ltd. lifted its holdings in Primerica by 1.8% during the second quarter. Burgundy Asset Management Ltd. now owns 1,333,473 shares of the financial services provider’s stock worth $364,932,000 after acquiring an additional 23,454 shares during the period. Bank of Montreal Can increased its position in shares of Primerica by 5,277.5% during the 4th 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. Geode Capital Management LLC raised its stake in shares of Primerica by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock worth $205,011,000 after purchasing an additional 37,014 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Primerica by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 642,950 shares of the financial services provider’s stock worth $166,119,000 after buying an additional 29,621 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Primerica by 2.7% during the fourth quarter. First Trust Advisors LP now owns 505,357 shares of the financial services provider’s stock valued at $130,564,000 after buying an additional 13,274 shares during the period. 90.88% of the stock is owned by institutional investors.

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.