Key Points
- Primerica President Peter Schneider sold 1,800 shares on May 18 at an average price of $279.64, totaling about $503,352. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Primerica recently reported strong quarterly earnings, with EPS of $5.96 topping estimates and revenue of $872.3 million beating expectations. Revenue rose 8.6% year over year, and the company posted a net margin of 22.99%.
- The company also declared a quarterly dividend of $1.20 per share, payable June 12, which works out to an annualized $4.80 dividend and a 1.7% yield. Institutional ownership remains high at 90.88% of shares outstanding.
Primerica, Inc. (NYSE:PRI - Get Free Report) President Peter Schneider sold 1,800 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the transaction, the president directly owned 9,811 shares of the company's stock, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Primerica Trading Down 0.6%
NYSE PRI opened at $278.88 on Wednesday. The company has a fifty day simple moving average of $264.01 and a two-hundred day simple moving average of $260.86. The stock has a market cap of $8.70 billion, a P/E ratio of 11.69 and a beta of 0.91. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $288.03.
Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.45 by $0.51. The business had revenue of $872.30 million during the quarter, compared to analysts' expectations of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $5.02 earnings per share. As a group, sell-side analysts forecast that Primerica, Inc. will post 24.08 earnings per share for the current year.
Primerica Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 21st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Primerica's dividend payout ratio (DPR) is currently 20.13%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in Primerica by 5,277.5% in the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider's stock valued at $338,874,000 after buying an additional 1,287,243 shares in the last quarter. Geode Capital Management LLC increased its holdings in Primerica by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider's stock valued at $205,011,000 after buying an additional 37,014 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Primerica by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider's stock valued at $162,950,000 after buying an additional 7,628 shares in the last quarter. First Trust Advisors LP increased its holdings in Primerica by 4.7% in the first quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider's stock valued at $132,556,000 after buying an additional 23,850 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Primerica by 200.3% in the fourth quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider's stock valued at $92,414,000 after buying an additional 238,571 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $290.00 to $305.00 and gave the stock a "market perform" rating in a report on Wednesday, May 13th. Weiss Ratings reissued a "buy (b-)" rating on shares of Primerica in a report on Wednesday, May 6th. Morgan Stanley reduced their target price on shares of Primerica from $292.00 to $285.00 and set an "equal weight" rating for the company in a report on Tuesday, March 3rd. TD Cowen reissued a "buy" rating on shares of Primerica in a report on Wednesday, January 28th. Finally, Zacks Research cut shares of Primerica from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $296.60.
Read Our Latest Research Report on Primerica
About Primerica
(
Get Free Report)
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.
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