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

Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Primerica Stock Down 1.1 %

PRI opened at $296.82 on Friday. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $304.84. The business has a 50 day moving average price of $272.02 and a two-hundred day moving average price of $250.23. The company has a market cap of $9.90 billion, a PE ratio of 22.68 and a beta of 1.08.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The business had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. During the same quarter in the prior year, the business earned $4.28 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Primerica, Inc. will post 19.12 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s payout ratio is 27.50%.

Primerica declared that its Board of Directors has initiated a share repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Primerica in the 3rd quarter valued at approximately $31,000. Prospera Private Wealth LLC acquired a new position in Primerica during the third quarter worth $31,000. ORG Partners LLC acquired a new position in Primerica during the second quarter worth $30,000. UMB Bank n.a. raised its position in Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Piper Sandler started coverage on Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price on the stock. Truist Financial upped their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Morgan Stanley lifted their price target on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Finally, StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Primerica has a consensus rating of “Hold” and a consensus target price of $288.33.

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.