Primerica (NYSE:PRI) President Sells 1,800 Shares

Primerica, Inc. (NYSE:PRI) President Peter Schneider sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $312.65, for a total value of $562,770.00. Following the completion of the sale, the president owned 8,011 shares in the company, valued at approximately $2,504,639.15. This represents a 18.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Price Performance

PRI traded down $4.21 during trading on Monday, reaching $309.48. 149,547 shares of the company’s stock were exchanged, compared to its average volume of 204,577. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $327.28. The stock has a market capitalization of $9.52 billion, a P/E ratio of 12.43 and a beta of 0.87. The company’s fifty day simple moving average is $300.57 and its 200-day simple moving average is $276.67.

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

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be given a dividend of $1.20 per share. The ex-dividend date is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. Primerica’s payout ratio is currently 19.28%.

Analyst Ratings Changes

PRI has been the topic of several recent research reports. Morgan Stanley upped their price target on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Weiss Ratings cut Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Jefferies Financial Group upped their target price on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods raised their target price on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a report on Tuesday, August 11th. Finally, TD Cowen raised their target price on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $310.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capstone Investment Advisors LLC acquired a new stake in Primerica in the 2nd quarter worth about $980,000. Redwood Investment Management LLC purchased a new stake in Primerica during the 2nd quarter worth approximately $1,161,000. Payne Capital Management LLC acquired a new position in shares of Primerica during the second quarter valued at approximately $205,000. Corient Private Wealth LP acquired a new position in shares of Primerica during the second quarter valued at approximately $6,657,000. Finally, Bamco Inc. NY purchased a new position in shares of Primerica in the second quarter valued at approximately $190,827,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

About Primerica

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.