Key Points
- Primerica Director Amber Lynne Cottle sold 279 shares at an average price of $313.63, generating $87,502.77 and reducing her ownership by 7.29% to 3,549 shares.
- Primerica reported quarterly EPS of $6.41, exceeding the $6.03 consensus estimate, while revenue rose 9% year over year to $865.07 million but fell short of expectations.
- The company declared a quarterly dividend of $1.20 per share, equivalent to $4.80 annually and a 1.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $310.67.
Primerica, Inc. (NYSE:PRI - Get Free Report) Director Amber Lynne Cottle sold 279 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total value of $87,502.77. Following the sale, the director owned 3,549 shares in the company, valued at approximately $1,113,072.87. This trade represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Primerica Stock Performance
Shares of Primerica stock opened at $312.93 on Wednesday. The stock has a market cap of $9.63 billion, a price-to-earnings ratio of 12.57 and a beta of 0.87. The stock has a 50 day moving average price of $297.46 and a 200-day moving average price of $275.51. Primerica, Inc. has a one year low of $230.09 and a one year 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 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.38. The company had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.Primerica's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.46 EPS. Sell-side analysts predict that Primerica, Inc. will post 24.85 earnings per share for the current fiscal year.
Primerica Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 21st will be paid a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.5%. Primerica's dividend payout ratio is currently 19.28%.
Institutional Investors Weigh In On Primerica
Several large investors have recently added to or reduced their stakes in PRI. M&T Bank Corp increased its stake in shares of 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 valued at $8,303,000 after buying an additional 29,578 shares during the period. Moran Wealth Management LLC lifted its stake in Primerica by 168.6% in the fourth quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider's stock worth $5,302,000 after acquiring an additional 12,881 shares during the period. Arbejdsmarkedets Tillaegspension bought a new position in Primerica during the 4th quarter worth about $23,767,000. Jefferies Financial Group Inc. purchased a new position in Primerica during the 4th quarter valued at about $2,289,000. Finally, Oxbow Advisors LLC purchased a new position in Primerica during the 4th quarter valued at about $3,170,000. 90.88% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on PRI shares. Jefferies Financial Group lifted their price target on shares of Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a research note on Friday, July 10th. Morgan Stanley boosted 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. TD Cowen increased their price target on Primerica from $322.00 to $360.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Weiss Ratings raised Primerica from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, July 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on Primerica from $323.00 to $335.00 and gave the company a "market perform" rating in a report on Tuesday. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $310.67.
View Our Latest Report on Primerica
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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