Primerica (NYSE:PRI) President Peter Schneider Sells 1,800 Shares

Primerica, Inc. (NYSE:PRI) President Peter Schneider sold 1,800 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $312.65, for a total value of $562,770.00. Following the completion of the transaction, the president owned 8,011 shares of the company’s stock, valued at $2,504,639.15. The trade was a 18.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Stock Down 1.3%

NYSE:PRI opened at $309.48 on Tuesday. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $327.28. The stock’s fifty day moving average is $301.50 and its two-hundred day moving average is $277.05. The company has a market capitalization of $9.53 billion, a P/E ratio of 12.43 and a beta of 0.87.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The firm had revenue of $865.07 million during the quarter, compared to the consensus estimate of $881.00 million. During the same period last year, the company earned $5.46 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Sell-side analysts anticipate that Primerica, Inc. will post 24.85 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 21st will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 21st. Primerica’s payout ratio is 19.28%.

Analyst Ratings Changes

PRI has been the subject of several research reports. Jefferies Financial Group lifted their target price on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods upped their price target on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th. Morgan Stanley raised their price target on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. TD Cowen lifted their price objective on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings downgraded Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Primerica has a consensus rating of “Hold” and an average price target of $310.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. M&T Bank Corp grew its holdings in Primerica by 1,155.8% during the 4th quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock worth $8,303,000 after acquiring an additional 29,578 shares in the last quarter. Moran Wealth Management LLC increased its position in shares of Primerica by 168.6% in the 4th quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock valued at $5,302,000 after purchasing an additional 12,881 shares during the last quarter. Arbejdsmarkedets Tillaegspension acquired a new stake in shares of Primerica in the 4th quarter valued at $23,767,000. Jefferies Financial Group Inc. acquired a new stake in shares of Primerica in the 4th quarter valued at $2,289,000. Finally, Oxbow Advisors LLC purchased a new stake in shares of Primerica during the 4th quarter worth $3,170,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Company Profile

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.