Key Points
- Primerica CEO Glenn Williams sold 1,500 shares on June 12 for about $420,735 at an average price of $280.49. After the sale, he still held 33,696 shares, and the move was made under a pre-arranged Rule 10b5-1 plan.
- The company recently reported strong quarterly results, with EPS of $5.96 beating estimates by $0.51 and revenue of $872.3 million topping expectations. Revenue rose 8.6% year over year, and Primerica also posted a high return on equity of 32.32%.
- Primerica paid a quarterly dividend of $1.20, equivalent to an annualized yield of about 1.7%. Analysts currently rate the stock a consensus Hold, with an average target price of $297.80.
Primerica, Inc. (NYSE:PRI - Get Free Report) CEO Glenn Williams sold 1,500 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the sale, the chief executive officer directly owned 33,696 shares of the company's stock, valued at $9,451,391.04. This represents a 4.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Primerica Price Performance
Shares of Primerica stock opened at $280.47 on Tuesday. The business has a fifty day simple moving average of $272.29 and a two-hundred day simple moving average of $262.83. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $288.03. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 11.76 and a beta of 0.88.
Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business had revenue of $872.30 million during the quarter, compared to the consensus estimate of $855.36 million. During the same quarter last year, the firm posted $5.02 EPS. The company's quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Primerica, Inc. will post 24.45 earnings per share for the current fiscal year.
Primerica Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were given a $1.20 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Primerica's dividend payout ratio is presently 20.13%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on PRI shares. Keefe, Bruyette & Woods upped their target price on Primerica from $290.00 to $305.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. Morgan Stanley upped their target price on Primerica from $280.00 to $291.00 and gave the company an "equal weight" rating in a research report on Thursday, May 21st. Zacks Research downgraded Primerica from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings raised Primerica from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Primerica presently has an average rating of "Hold" and an average target price of $297.80.
Check Out Our Latest Report on PRI
Hedge Funds Weigh In On Primerica
Several institutional investors and hedge funds have recently made changes to their positions in PRI. Smartleaf Asset Management LLC grew its position in shares of Primerica by 186.5% in the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 69 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Primerica by 176.2% in the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock valued at $29,000 after buying an additional 74 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Primerica in the fourth quarter valued at approximately $30,000. Root Financial Partners LLC boosted its stake in shares of Primerica by 52.6% in the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock valued at $44,000 after buying an additional 61 shares during the period. Finally, Steph & Co. boosted its stake in shares of Primerica by 38.0% in the first quarter. Steph & Co. now owns 196 shares of the financial services provider's stock valued at $49,000 after buying an additional 54 shares during the period. Institutional investors and hedge funds own 90.88% of the company's stock.
Primerica Company Profile
(
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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