Primerica (NYSE:PRI) Stock: Insider Glenn Williams Sells 1,500 Shares

Primerica, Inc. (NYSE:PRI) CEO Glenn Williams sold 1,500 shares of the firm’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $294.94, for a total value of $442,410.00. Following the completion of the sale, the chief executive officer directly owned 25,221 shares in the company, valued at $7,438,681.74. This trade represents a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Trading Up 3.1%

Primerica stock traded up $9.08 during midday trading on Monday, reaching $299.66. The company’s stock had a trading volume of 231,527 shares, compared to its average volume of 202,015. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $327.28. The business has a 50-day moving average price of $282.99 and a 200-day moving average price of $279.03. The stock has a market cap of $9.09 billion, a PE ratio of 11.84 and a beta of 0.86.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, November 4th. The financial services provider reported $6.77 EPS for the quarter, topping the consensus estimate of $6.40 by $0.37. The firm had revenue of $901.82 million during the quarter, compared to the consensus estimate of $901.00 million. Primerica had a return on equity of 30.90% and a net margin of 22.86%. During the same quarter in the previous year, the firm earned $6.33 earnings per share. As a group, research analysts predict that Primerica, Inc. will post 25.22 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Friday, November 20th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, November 20th. Primerica’s dividend payout ratio is currently 18.96%.

Institutional Trading of Primerica

Several hedge funds and other institutional investors have recently made changes to their positions in PRI. Ameritas Advisory Services LLC bought a new position in Primerica in the 2nd quarter valued at approximately $26,000. C M Bidwell & Associates Ltd. bought a new stake in Primerica during the 2nd quarter worth approximately $29,000. Ashurst Perkins Coie Trust Co bought a new stake in Primerica during the 3rd quarter worth approximately $42,000. Pension & Wealth Management Advisors Inc. bought a new stake in Primerica during the 3rd quarter worth approximately $43,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Primerica in the 2nd quarter valued at approximately $65,000. 90.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on PRI. TD Cowen increased their price objective on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Truist Financial cut shares of Primerica from a “buy” rating to a “hold” rating and decreased their target price for the stock from $370.00 to $320.00 in a research note on Thursday, August 27th. Weiss Ratings downgraded shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods dropped their price target on Primerica from $335.00 to $330.00 and set a “market perform” rating for the company in a research note on Friday, October 9th. Finally, Morgan Stanley raised their price objective on Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a report on Monday, August 24th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $318.80.

About Primerica

Primerica, Inc provides financial products and services to middle-income households in the United States and Canada. Its core business is term life insurance, which it distributes through a network of representatives who work directly with clients.

Through its investment and savings businesses, Primerica offers products and services including mutual funds, annuities, managed investment accounts, and retirement planning solutions. It also connects clients with certain third-party providers of products such as auto and homeowners insurance.

The company traces its roots to A.L.