Primerica (NYSE:PRI) Director Amber Lynne Cottle Sells 279 Shares

Primerica, Inc. (NYSE:PRI) Director Amber Lynne Cottle sold 279 shares of Primerica stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the completion of the sale, the director owned 3,549 shares of the company’s stock, valued at $1,113,072.87. This represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Primerica Stock Down 0.2%

PRI opened at $312.93 on Wednesday. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 12.57 and a beta of 0.87. The firm has a 50 day moving average price of $297.46 and a 200-day moving average price of $275.51. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $327.28.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38. The business had revenue of $865.07 million during 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 firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.46 EPS. As a group, analysts expect that Primerica, Inc. will post 24.85 earnings per share for the current year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.5%. Primerica’s payout ratio is presently 19.28%.

Institutional Investors Weigh In On Primerica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Primerica in the second quarter valued at $848,161,000. Bank of Montreal Can raised its stake in Primerica by 5,277.5% during the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after purchasing an additional 1,287,243 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Primerica during the second quarter valued at $79,044,000. Invesco Ltd. grew its stake in shares of Primerica by 200.3% in the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after buying an additional 238,571 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd purchased a new position in shares of Primerica in the 4th quarter worth $40,714,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PRI shares. Morgan Stanley boosted their price target on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research note on Tuesday. TD Cowen raised their price objective on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Weiss Ratings raised shares of Primerica from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, July 24th. Finally, Jefferies Financial Group increased their price target on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $310.67.

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.