Primerica (NYSE:PRI) CEO Glenn Williams Sells 1,500 Shares

Primerica, Inc. (NYSE:PRI) CEO Glenn Williams sold 1,500 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $280.49, for a total value of $420,735.00. Following the completion of the transaction, the chief executive officer owned 33,696 shares in the company, valued at $9,451,391.04. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Stock Down 0.5%

NYSE:PRI opened at $280.47 on Tuesday. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $288.03. The firm has a market capitalization of $8.74 billion, a P/E ratio of 11.76 and a beta of 0.88. The stock’s fifty day simple moving average is $272.29 and its 200-day simple moving average is $262.83.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.45 by $0.51. The business had revenue of $872.30 million for the quarter, compared to analyst estimates of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The firm’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned $5.02 EPS. As a group, equities research analysts expect that Primerica, Inc. will post 24.45 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were issued a dividend of $1.20 per share. The ex-dividend date was Thursday, May 21st. This represents a $4.80 annualized dividend and a yield of 1.7%. Primerica’s payout ratio is currently 20.13%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley lifted their target price on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods lifted their target price on Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Weiss Ratings upgraded Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Finally, Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $297.80.

Institutional Trading of Primerica

Institutional investors have recently modified their holdings of the company. Vista Investment Partners II LLC acquired a new stake in shares of Primerica in the fourth quarter valued at about $1,685,000. First Trust Advisors LP increased its position in shares of Primerica by 12.4% in the third quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock valued at $136,597,000 after acquiring an additional 54,158 shares during the last quarter. M&T Bank Corp increased its position in Primerica by 1,155.8% during the fourth quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock worth $8,303,000 after buying an additional 29,578 shares during the last quarter. Prana Capital Management LP increased its position in Primerica by 22.8% during the third quarter. Prana Capital Management LP now owns 66,916 shares of the financial services provider’s stock worth $18,575,000 after buying an additional 12,432 shares during the last quarter. Finally, Moran Wealth Management LLC increased its position in Primerica by 168.6% during the fourth quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock worth $5,302,000 after buying an additional 12,881 shares during the last quarter. 90.88% of the stock is currently 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.