Insider Selling: Primerica, Inc. (NYSE:PRI) CEO Sells $757,650.00 in Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the sale, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Primerica Trading Up 1.3 %

Shares of NYSE PRI opened at $256.52 on Thursday. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 15.61 and a beta of 1.09. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $256.56. The company has a 50 day simple moving average of $240.50 and a two-hundred day simple moving average of $236.77.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The company had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.99 earnings per share. Analysts forecast that Primerica, Inc. will post 17.83 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Wednesday, August 21st will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.40%. This is a positive change from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, August 21st. Primerica’s dividend payout ratio (DPR) is 18.26%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC boosted its holdings in Primerica by 2,986.9% during the second quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider’s stock worth $7,595,000 after buying an additional 31,064 shares in the last quarter. Bank of Montreal Can grew its position in shares of Primerica by 4.4% during the 2nd quarter. Bank of Montreal Can now owns 33,149 shares of the financial services provider’s stock valued at $7,862,000 after acquiring an additional 1,391 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Primerica by 4.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 5,866 shares of the financial services provider’s stock valued at $1,388,000 after purchasing an additional 266 shares in the last quarter. Sei Investments Co. raised its holdings in Primerica by 19.1% in the 2nd quarter. Sei Investments Co. now owns 51,300 shares of the financial services provider’s stock worth $12,137,000 after purchasing an additional 8,227 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Primerica by 28.6% during the second quarter. Pacer Advisors Inc. now owns 8,634 shares of the financial services provider’s stock worth $2,043,000 after purchasing an additional 1,920 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRI has been the subject of several research analyst reports. Truist Financial increased their price objective on shares of Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, August 9th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Wednesday. Jefferies Financial Group boosted their price objective on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Morgan Stanley reduced their target price on Primerica from $245.00 to $243.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods boosted their price target on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus target price of $266.75.

About Primerica

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.