Glenn Williams Sells 1,500 Shares of Primerica (NYSE:PRI) Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn Williams sold 1,500 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $280.49, for a total value of $420,735.00. Following the completion of the sale, the chief executive officer directly owned 33,696 shares in the company, valued at $9,451,391.04. This represents a 4.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Stock Performance

PRI opened at $282.27 on Wednesday. Primerica, Inc. has a one year low of $230.09 and a one year high of $288.03. The stock’s fifty day moving average is $272.87 and its 200-day moving average is $263.00. The company has a market capitalization of $8.80 billion, a PE ratio of 11.84 and a beta of 0.88.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. During the same quarter in the previous year, the business earned $5.02 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts forecast that Primerica, Inc. will post 24.45 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 21st. Primerica’s payout ratio is currently 20.13%.

Hedge Funds Weigh In On Primerica

A number of hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its holdings in shares of Primerica by 186.5% during the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after buying an additional 69 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Primerica during the fourth quarter valued at $30,000. SJS Investment Consulting Inc. grew its holdings 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 valued at $29,000 after buying an additional 74 shares in the last quarter. Root Financial Partners LLC grew its holdings in shares of Primerica by 52.6% during the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after buying an additional 61 shares in the last quarter. Finally, Torren Management LLC purchased a new position in shares of Primerica during the fourth quarter valued at $50,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Keefe, Bruyette & Woods lifted their target price on Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Primerica has an average rating of “Hold” and an average target price of $297.80.

About Primerica

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.