Key Points
- Primerica CEO Glenn Williams sold 1,500 shares for $442,410 at an average price of $294.94. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 25,221 shares.
- Primerica reported quarterly EPS of $6.77, beating the $6.40 consensus estimate, while revenue of $901.82 million was slightly above forecasts.
- The company declared a quarterly dividend of $1.20 per share, equivalent to $4.80 annually and a 1.6% yield. Analysts’ consensus rating was Hold, with an average price target of $318.80.
Primerica, Inc. (NYSE:PRI - Get Free Report) CEO Glenn Williams sold 1,500 shares of the business's stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $294.94, for a total transaction of $442,410.00. Following the sale, the chief executive officer directly owned 25,221 shares in the company, valued at $7,438,681.74. The trade was a 5.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Primerica Stock Performance
Shares of PRI opened at $299.66 on Tuesday. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $327.28. The firm's 50-day simple moving average is $283.18 and its two-hundred day simple moving average is $279.22. The stock has a market cap of $9.22 billion, a PE ratio of 11.26 and a beta of 0.86.
Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Wednesday, November 4th. The financial services provider reported $6.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.40 by $0.37. Primerica had a net margin of 22.86% and a return on equity of 31.92%. The firm had revenue of $901.82 million during the quarter, compared to analyst estimates of $901.00 million. During the same period last year, the business earned $6.33 earnings per share. Equities research analysts predict that Primerica, Inc. will post 25.22 EPS for the current year.
Primerica Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Friday, November 20th will be paid a $1.20 dividend. The ex-dividend date is Friday, November 20th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. Primerica's dividend payout ratio is presently 18.96%.
Institutional Investors Weigh In On Primerica
Institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC increased its holdings in shares of Primerica by 91.0% in the 3rd quarter. Intech Investment Management LLC now owns 13,195 shares of the financial services provider's stock worth $3,594,000 after purchasing an additional 6,287 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Primerica by 17.9% in the third quarter. Hantz Financial Services Inc. now owns 1,555 shares of the financial services provider's stock worth $424,000 after purchasing an additional 236 shares during the last quarter. Danske Bank A S lifted its holdings in shares of Primerica by 344.3% during the third quarter. Danske Bank A S now owns 67,412 shares of the financial services provider's stock valued at $18,362,000 after purchasing an additional 52,240 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Primerica by 22.8% during the third quarter. Maryland State Retirement & Pension System now owns 1,933 shares of the financial services provider's stock valued at $527,000 after purchasing an additional 359 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in shares of Primerica by 1.2% during the third quarter. Ritholtz Wealth Management now owns 13,660 shares of the financial services provider's stock valued at $3,721,000 after purchasing an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. Morgan Stanley lifted their price objective on Primerica from $291.00 to $316.00 and gave the company an "equal weight" rating in a research note on Monday, August 24th. Keefe, Bruyette & Woods cut their target price on Primerica from $335.00 to $330.00 and set a "market perform" rating on the stock in a research note on Friday, October 9th. Truist Financial cut Primerica from a "buy" rating to a "hold" rating and cut their target price for the stock from $370.00 to $320.00 in a research note on Thursday, August 27th. Weiss Ratings downgraded Primerica from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Finally, TD Cowen lifted their price target on Primerica from $322.00 to $360.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $318.80.
Get Our Latest Research Report on PRI
Primerica Company Profile
(
Get Free Report)
Primerica, Inc provides financial products and services to middle-income households in the United States and Canada. Its core business is term life insurance, which it distributes through a network of representatives who work directly with clients.
Through its investment and savings businesses, Primerica offers products and services including mutual funds, annuities, managed investment accounts, and retirement planning solutions. It also connects clients with certain third-party providers of products such as auto and homeowners insurance.
The company traces its roots to A.L.
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