Insider Selling: Primerica, Inc. (NYSE:PRI) CEO Sells 3,000 Shares of Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Primerica Trading Up 0.0 %

PRI opened at $280.48 on Friday. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The stock has a fifty day simple moving average of $281.95 and a two-hundred day simple moving average of $276.58. The company has a market cap of $9.36 billion, a price-to-earnings ratio of 20.40 and a beta of 1.11.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be issued a dividend of $1.04 per share. The ex-dividend date is Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 1.48%. Primerica’s dividend payout ratio (DPR) is presently 26.18%.

Hedge Funds Weigh In On Primerica

Several institutional investors and hedge funds have recently modified their holdings of PRI. Creative Planning increased its holdings in shares of Primerica by 0.7% during the third quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $1,613,000 after acquiring an additional 40 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Primerica in the 3rd quarter worth about $31,000. Blue Trust Inc. increased its holdings in Primerica by 247.4% in the 3rd quarter. Blue Trust Inc. now owns 667 shares of the financial services provider’s stock worth $177,000 after buying an additional 475 shares in the last quarter. Raymond James & Associates increased its holdings in Primerica by 4.6% in the 3rd quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock worth $32,176,000 after buying an additional 5,323 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Primerica in the 3rd quarter worth about $115,000. 90.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on PRI shares. Keefe, Bruyette & Woods upped their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. TD Cowen increased their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler dropped their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, Truist Financial upped their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Primerica has an average rating of “Hold” and a consensus target price of $311.14.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.