Insider Selling: Primerica, Inc. (NYSE:PRI) Director Sells 2,000 Shares of Stock

Primerica, Inc. (NYSE:PRI) Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the sale, the director now owns 15,151 shares of the company’s stock, valued at $3,846,081.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Primerica Trading Down 1.3 %

Primerica stock traded down $3.32 on Wednesday, reaching $249.66. 101,561 shares of the stock were exchanged, compared to its average volume of 159,257. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $265.27. The firm has a fifty day moving average price of $251.13 and a two-hundred day moving average price of $239.47. The stock has a market cap of $8.45 billion, a PE ratio of 15.19 and a beta of 1.09.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.24. The firm had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.99 EPS. Equities analysts anticipate that Primerica, Inc. will post 17.94 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st will be paid a $0.90 dividend. This is an increase from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.44%. Primerica’s dividend payout ratio (DPR) is presently 21.91%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PRI. Jefferies Financial Group raised their price target on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Truist Financial boosted their target price on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Morgan Stanley increased their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods boosted their price target on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Finally, Piper Sandler began coverage on Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $275.20.

Hedge Funds Weigh In On Primerica

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its position in Primerica by 20,472.7% in the fourth quarter. International Assets Investment Management LLC now owns 2,263 shares of the financial services provider’s stock worth $466,000 after purchasing an additional 2,252 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Primerica by 5.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,673 shares of the financial services provider’s stock worth $550,000 after acquiring an additional 138 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Primerica by 56.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,290 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 1,191 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Primerica by 2.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,405 shares of the financial services provider’s stock valued at $1,935,000 after acquiring an additional 246 shares during the period. Finally, NDVR Inc. acquired a new position in Primerica in the fourth quarter worth about $222,000. Institutional investors own 90.88% of the company’s stock.

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.