Primerica, Inc. (NYSE:PRI) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 727,200 shares, a decrease of 6.2% from the September 30th total of 775,500 shares. Based on an average daily volume of 202,200 shares, the short-interest ratio is presently 3.6 days. Approximately 1.8% of the company’s shares are sold short.
Several brokerages have weighed in on PRI. ValuEngine lowered Primerica from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Zacks Investment Research lowered Primerica from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th.
In related news, President Peter W. Schneider sold 3,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.26, for a total transaction of $357,780.00. Following the transaction, the president now directly owns 29,790 shares of the company’s stock, valued at $3,552,755.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alison S. Rand sold 2,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.64, for a total value of $239,280.00. Following the completion of the transaction, the chief financial officer now directly owns 17,337 shares in the company, valued at $2,074,198.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,000 shares of company stock valued at $1,377,210. 0.84% of the stock is currently owned by company insiders.
PRI stock traded up $0.76 during mid-day trading on Tuesday, hitting $131.86. The stock had a trading volume of 50,437 shares, compared to its average volume of 128,512. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.03. Primerica has a 1-year low of $90.28 and a 1-year high of $132.17. The company has a fifty day moving average of $125.67 and a 200 day moving average of $122.44. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 17.99 and a beta of 1.36.
Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $2.26 EPS for the quarter, beating the Zacks’ consensus estimate of $2.14 by $0.12. The business had revenue of $520.60 million for the quarter, compared to analyst estimates of $518.78 million. Primerica had a return on equity of 22.88% and a net margin of 17.90%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.93 EPS. As a group, sell-side analysts expect that Primerica will post 8.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Tuesday, November 19th. Primerica’s dividend payout ratio is 18.55%.
Primerica Company Profile
Primerica, Inc, together with its subsidiaries, provides financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.
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