Insider Selling: Primerica (NYSE:PRI) President Sells $454,284.00 in Stock

Primerica, Inc. (NYSE:PRI) President Peter Schneider sold 1,800 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total transaction of $454,284.00. Following the completion of the sale, the president directly owned 11,611 shares in the company, valued at $2,930,384.18. This represents a 13.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Primerica Price Performance

Shares of Primerica stock opened at $248.70 on Friday. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $296.00. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 10.85 and a beta of 0.92. The company has a 50-day moving average of $260.09 and a 200 day moving average of $262.70.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.69 by $0.44. The business had revenue of $853.51 million for the quarter, compared to analyst estimates of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. Primerica’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.03 earnings per share. On average, equities analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be given a $1.20 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Primerica’s previous quarterly dividend of $1.04. Primerica’s payout ratio is presently 20.93%.

Primerica announced that its Board of Directors has approved a share repurchase program on Wednesday, November 19th that authorizes the company to repurchase $475.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

PRI has been the subject of a number of recent research reports. TD Cowen reiterated a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Finally, Morgan Stanley lowered their price target on Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. Three equities research 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 company currently has an average rating of “Hold” and an average target price of $298.60.

Hedge Funds Weigh In On Primerica

A number of hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB bought a new position in shares of Primerica during the third quarter valued at $51,004,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Primerica by 115.1% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 11,774 shares of the financial services provider’s stock worth $3,268,000 after buying an additional 6,300 shares in the last quarter. Moran Wealth Management LLC bought a new stake in Primerica in the 3rd quarter worth about $2,121,000. Aviva PLC purchased a new position in Primerica in the 2nd quarter worth about $514,000. Finally, Alps Advisors Inc. purchased a new position in Primerica in the 3rd quarter worth about $20,524,000. 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.