Key Points
- Primerica CEO Glenn Williams sold 1,500 shares at an average price of $320.20, totaling $480,300, under a pre-arranged Rule 10b5-1 trading plan. He retains 32,196 shares after the sale.
- Primerica’s latest quarterly results exceeded expectations, with EPS of $6.41 versus the $6.03 consensus estimate. Revenue rose 9% year over year to $865.07 million, though it fell short of analysts’ $881 million forecast.
- The company declared a quarterly dividend of $1.20, equivalent to $4.80 annually and a 1.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $308.67.
Primerica, Inc. (NYSE:PRI - Get Free Report) CEO Glenn Williams sold 1,500 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $320.20, for a total value of $480,300.00. Following the completion of the sale, the chief executive officer directly owned 32,196 shares of the company's stock, valued at $10,309,159.20. The trade was a 4.45% decrease in their ownership of the stock. 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 Stock Down 2.5%
Shares of NYSE PRI opened at $313.44 on Tuesday. The business has a 50-day moving average price of $296.40 and a 200 day moving average price of $275.14. The stock has a market cap of $9.77 billion, a PE ratio of 12.59 and a beta of 0.87. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $327.28.
Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, topping the consensus estimate of $6.03 by $0.38. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The company had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. During the same quarter in the previous year, the company posted $5.46 earnings per share. The firm's revenue was up 9.0% compared to the same quarter last year. Sell-side analysts anticipate that Primerica, Inc. will post 24.7 earnings per share for the current year.
Primerica Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 21st will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. Primerica's payout ratio is presently 19.28%.
Analyst Ratings Changes
Several analysts recently commented on the stock. TD Cowen upped their price target on shares of Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Primerica from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $305.00 to $323.00 and gave the company a "market perform" rating in a report on Monday, July 13th. Morgan Stanley increased their target price on shares of Primerica from $280.00 to $291.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 21st. Finally, Jefferies Financial Group boosted their price target on Primerica from $266.00 to $268.00 and gave the company a "hold" rating in a research report on Friday, July 10th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Primerica has a consensus rating of "Hold" and an average target price of $308.67.
Check Out Our Latest Analysis on Primerica
Institutional Trading of Primerica
Hedge funds have recently made changes to their positions in the company. M&T Bank Corp grew its position in Primerica by 1,155.8% during the fourth quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider's stock worth $8,303,000 after buying an additional 29,578 shares during the period. Moran Wealth Management LLC lifted its position in shares of Primerica by 168.6% during the 4th quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider's stock valued at $5,302,000 after acquiring an additional 12,881 shares during the period. Arbejdsmarkedets Tillaegspension acquired a new stake in shares of Primerica during the 4th quarter valued at approximately $23,767,000. Jefferies Financial Group Inc. purchased a new stake in shares of Primerica during the 4th quarter worth approximately $2,289,000. Finally, Oxbow Advisors LLC purchased a new stake in shares of Primerica during the 4th quarter worth approximately $3,170,000. Institutional investors and hedge funds own 90.88% of the company's stock.
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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