Primerica, Inc. (NYSE:PRI) CEO Sells $668,280.00 in Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $222.76, for a total transaction of $668,280.00. Following the transaction, the chief executive officer now owns 48,322 shares of the company’s stock, valued at approximately $10,764,208.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Primerica Price Performance

PRI stock opened at $220.68 on Friday. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $256.56. The firm has a market capitalization of $7.59 billion, a PE ratio of 13.43 and a beta of 1.08. The business has a 50 day simple moving average of $223.03 and a 200-day simple moving average of $227.56.

Primerica (NYSE:PRI) last issued its earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.12 by ($0.21). Primerica had a net margin of 20.44% and a return on equity of 27.35%. The company had revenue of $742.83 million during the quarter, compared to analysts’ expectations of $740.57 million. During the same quarter in the previous year, the company earned $3.49 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that Primerica, Inc. will post 17.66 EPS for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Monday, May 20th. Primerica’s payout ratio is currently 18.26%.

Analyst Upgrades and Downgrades

PRI has been the subject of several research reports. Morgan Stanley boosted their price objective on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods raised their price objective on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus target price of $245.50.

Hedge Funds Weigh In On Primerica

A number of institutional investors have recently bought and sold shares of PRI. SkyView Investment Advisors LLC increased its holdings in shares of Primerica by 3.0% during the 1st quarter. SkyView Investment Advisors LLC now owns 6,209 shares of the financial services provider’s stock worth $1,571,000 after buying an additional 178 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in Primerica by 55.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,648 shares of the financial services provider’s stock worth $670,000 after acquiring an additional 940 shares during the period. Axxcess Wealth Management LLC acquired a new stake in Primerica during the first quarter worth $205,000. CANADA LIFE ASSURANCE Co raised its position in Primerica by 2.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 33,085 shares of the financial services provider’s stock valued at $8,373,000 after purchasing an additional 704 shares during the period. Finally, Burgundy Asset Management Ltd. lifted its stake in shares of Primerica by 1.2% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,220,069 shares of the financial services provider’s stock valued at $308,629,000 after purchasing an additional 14,662 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other 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.