Primerica, Inc. (NYSE:PRI) Insider Nicholas Adam Jendusa Sells 234 Shares of Stock

Primerica, Inc. (NYSE:PRI) insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the sale, the insider now owns 200 shares in the company, valued at approximately $56,030. This trade represents a 53.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Primerica Price Performance

Primerica stock opened at $286.04 on Thursday. The firm has a 50 day simple moving average of $283.52 and a 200-day simple moving average of $278.73. The stock has a market capitalization of $9.55 billion, a PE ratio of 20.80 and a beta of 1.11. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a $1.04 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.45%. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is currently 30.25%.

Primerica declared that its Board of Directors has authorized a share buyback program on Thursday, November 14th that authorizes the company to repurchase $450.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Primerica

A number of institutional investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. purchased a new position in Primerica in the 4th quarter worth about $2,921,000. Burgundy Asset Management Ltd. increased its stake in Primerica by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider’s stock worth $349,717,000 after purchasing an additional 21,208 shares in the last quarter. Vise Technologies Inc. purchased a new position in Primerica in the 4th quarter worth about $368,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Primerica by 9.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,679 shares of the financial services provider’s stock valued at $38,726,000 after acquiring an additional 11,737 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its stake in Primerica by 527.1% during the 4th quarter. Voloridge Investment Management LLC now owns 42,816 shares of the financial services provider’s stock valued at $11,621,000 after acquiring an additional 35,988 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PRI. BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price on the stock. Truist Financial increased their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Morgan Stanley dropped their price objective on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Finally, TD Cowen increased their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus price target of $309.86.

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.