Primerica, Inc. (NYSE:PRI) CEO Sells $903,810.00 in Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares in the company, valued at $10,942,728.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Primerica Price Performance

Shares of NYSE PRI traded up $2.02 during midday trading on Tuesday, hitting $302.64. 113,042 shares of the company’s stock were exchanged, compared to its average volume of 155,043. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $304.84. The firm has a market cap of $10.24 billion, a P/E ratio of 22.97 and a beta of 1.08. The stock’s 50 day moving average price is $270.38 and its 200-day moving average price is $249.25.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. The business had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. Primerica’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.28 earnings per share. On average, analysts expect that Primerica, Inc. will post 18.49 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Thursday, November 21st. Primerica’s dividend payout ratio is 27.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Truist Financial increased their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday. TD Cowen assumed coverage on Primerica in a report on Wednesday, October 9th. They set a “buy” rating and a $314.00 price target for the company. Jefferies Financial Group lifted their price target on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Finally, Piper Sandler initiated coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Primerica currently has an average rating of “Hold” and a consensus price target of $288.33.

Institutional Investors Weigh In On Primerica

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC lifted its stake in shares of Primerica by 30,726.7% in the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock valued at $161,102,000 after buying an additional 678,752 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Primerica by 66.3% during the second quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock worth $23,601,000 after buying an additional 39,761 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Primerica by 2,986.9% in the second quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider’s stock worth $7,595,000 after purchasing an additional 31,064 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Primerica during the 2nd quarter worth about $71,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Primerica by 359,742.9% in the third quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock valued at $6,679,000 after purchasing an additional 25,182 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

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.