Glenn J. Williams Sells 3,000 Shares of Primerica, Inc. (NYSE:PRI) Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Primerica Stock Up 0.0 %

Shares of NYSE:PRI opened at $280.48 on Friday. The business’s 50 day moving average is $281.95 and its 200 day moving average is $276.58. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The stock 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 posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

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

Primerica Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PRI shares. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Truist Financial raised their price objective on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Piper Sandler lowered their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Morgan Stanley lifted their target price on Primerica from $308.00 to $313.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, TD Cowen boosted their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $311.14.

Institutional Trading of Primerica

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after purchasing an additional 25,951 shares during the period. Barclays PLC increased its holdings in shares of Primerica by 108.1% in the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock worth $5,428,000 after buying an additional 10,635 shares during the last quarter. Sylvest Advisors LLC bought a new stake in shares of Primerica during the 4th quarter worth $543,000. Oak Thistle LLC lifted its stake in Primerica by 64.9% during the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after purchasing an additional 1,943 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Primerica during the 3rd quarter valued at about $3,710,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Company Profile

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.