Primerica, Inc. (NYSE:PRI) CEO Sells $757,650.00 in Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Primerica Stock Performance

Shares of PRI opened at $256.52 on Thursday. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $256.56. The stock has a market capitalization of $8.68 billion, a P/E ratio of 15.61 and a beta of 1.09. The company’s fifty day moving average is $240.50 and its two-hundred day moving average is $236.77.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. The business had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The business’s revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.99 earnings per share. Sell-side analysts predict that Primerica, Inc. will post 17.83 EPS for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, August 21st. Primerica’s dividend payout ratio is 18.26%.

Institutional Trading of Primerica

A number of institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Primerica in the fourth quarter valued at $31,194,000. Los Angeles Capital Management LLC increased its holdings in shares of Primerica by 47.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock valued at $25,840,000 after purchasing an additional 40,647 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Primerica by 2,986.9% in the second quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider’s stock valued at $7,595,000 after purchasing an additional 31,064 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Primerica during the second quarter worth about $71,000. Finally, Dimensional Fund Advisors LP grew its position in Primerica by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock worth $150,880,000 after buying an additional 21,836 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PRI. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Wednesday. Truist Financial raised their price objective on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Morgan Stanley decreased their target price on shares of Primerica from $245.00 to $243.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group boosted their price target on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $266.75.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.