Primerica, Inc. (NYSE:PRI - Get Free Report) President Peter Schneider sold 1,800 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $312.65, for a total value of $562,770.00. Following the transaction, the president directly owned 8,011 shares of the company's stock, valued at approximately $2,504,639.15. This represents a 18.35% decrease in their ownership of the stock. The transaction was disclosed in a 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 Performance
PRI opened at $309.48 on Tuesday. Primerica, Inc. has a one year low of $230.09 and a one year high of $327.28. The company has a market cap of $9.53 billion, a P/E ratio of 12.43 and a beta of 0.87. The business's 50-day simple moving average is $301.50 and its 200-day simple moving average is $277.05.
Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.38. The firm had revenue of $865.07 million during the quarter, compared to analysts' expectations of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The firm's revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.46 earnings per share. As a group, analysts predict that Primerica, Inc. will post 24.85 earnings per share for the current fiscal year.
Primerica Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. Primerica's dividend payout ratio (DPR) is presently 19.28%.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $323.00 to $335.00 and gave the company a "market perform" rating in a report on Tuesday, August 11th. TD Cowen lifted their price target on shares of Primerica from $322.00 to $360.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Morgan Stanley boosted their price target on shares of Primerica from $280.00 to $291.00 and gave the company an "equal weight" rating in a research report on Thursday, May 21st. Weiss Ratings downgraded shares of Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group raised their price objective on Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a report on Friday, July 10th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $310.67.
Get Our Latest Stock Report on Primerica
Institutional Investors Weigh In On Primerica
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. acquired a new stake in shares of Primerica in the second quarter valued at approximately $29,000. SJS Investment Consulting Inc. grew its position in shares of Primerica by 176.2% during the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock worth $29,000 after acquiring an additional 74 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of Primerica by 52.6% in the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 61 shares during the period. Smartleaf Asset Management LLC raised its position in Primerica by 68.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 73 shares during the last quarter. Finally, Torren Management LLC purchased a new stake in Primerica in the 4th quarter valued at $50,000. Hedge funds and other institutional investors 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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