Primerica (NYSE:PRI) President Sells $562,770.00 in Stock

Primerica, Inc. (NYSE:PRI) President Peter Schneider sold 1,800 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $312.65, for a total transaction of $562,770.00. Following the completion of the sale, the president owned 8,011 shares in the company, valued at $2,504,639.15. This represents a 18.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Stock Down 2.4%

PRI stock opened at $300.70 on Thursday. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $327.28. The company has a fifty day simple moving average of $302.69 and a two-hundred day simple moving average of $277.67. The firm has a market capitalization of $9.26 billion, a P/E ratio of 12.08 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 EPS for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38. The business had revenue of $865.07 million during the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the company posted $5.46 EPS. As a group, analysts anticipate that Primerica, Inc. will post 25.02 EPS for the current year.

Primerica Announces Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Primerica

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Primerica during the second quarter valued at approximately $848,161,000. Bank of Montreal Can lifted its stake in shares of Primerica by 5,277.5% during the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after acquiring an additional 1,287,243 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Primerica by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock valued at $205,011,000 after acquiring an additional 37,014 shares during the period. Bamco Inc. NY purchased a new position in Primerica during the 2nd quarter valued at $190,827,000. Finally, Dimensional Fund Advisors LP grew its position in Primerica by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider’s stock valued at $162,950,000 after acquiring an additional 7,628 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

About Primerica

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.