Glenn J. Williams Sells 3,000 Shares of Primerica, Inc. (NYSE:PRI) Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Primerica Stock Performance

Shares of PRI traded down $1.67 during mid-day trading on Wednesday, reaching $280.59. 110,248 shares of the company were exchanged, compared to its average volume of 141,526. The stock has a market capitalization of $9.36 billion, a PE ratio of 20.41 and a beta of 1.11. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The business has a 50 day simple moving average of $282.05 and a two-hundred day simple moving average of $276.28.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, analysts predict that Primerica, Inc. will post 20.53 EPS for the current year.

Primerica announced that its Board of Directors has authorized a share buyback program on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, February 21st. Primerica’s payout ratio is currently 26.18%.

Analysts Set New Price Targets

A number of research firms have weighed in on PRI. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday. Morgan Stanley upped their target price on Primerica from $308.00 to $313.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler lowered their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, BMO Capital Markets began coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $311.14.

Hedge Funds Weigh In On Primerica

Several institutional investors have recently added to or reduced their stakes in PRI. Geode Capital Management LLC grew its position in shares of Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after buying an additional 25,951 shares during the period. Barclays PLC boosted its stake in Primerica by 108.1% during the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock worth $5,428,000 after acquiring an additional 10,635 shares in the last quarter. Sylvest Advisors LLC acquired a new stake in Primerica in the fourth quarter worth $543,000. Oak Thistle LLC increased its stake in Primerica by 64.9% in the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock valued at $1,340,000 after purchasing an additional 1,943 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Primerica during the third quarter valued at about $3,710,000. 90.88% of the stock is owned by institutional investors and hedge funds.

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.