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 Primerica stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Primerica Price Performance

NYSE:PRI traded down $1.67 on Wednesday, reaching $280.59. 110,248 shares of the company’s stock were exchanged, compared to its average volume of 141,526. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 20.41 and a beta of 1.11. The stock has a fifty day simple moving average of $282.05 and a 200-day simple moving average of $276.28. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, sell-side analysts predict that Primerica, Inc. will post 20.53 EPS for the current year.

Primerica Increases Dividend

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

Primerica declared that its Board of Directors has approved a stock repurchase program on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc boosted its position in shares of Primerica by 3.5% in the third quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 36 shares during the period. Mariner LLC lifted its stake in Primerica by 1.4% in the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider’s stock worth $709,000 after purchasing an additional 36 shares in the last quarter. Creative Planning boosted its holdings in Primerica by 0.7% in the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $1,613,000 after purchasing an additional 40 shares during the period. Kingsview Wealth Management LLC grew its position in shares of Primerica by 0.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after purchasing an additional 43 shares in the last quarter. Finally, Dana Investment Advisors Inc. increased its holdings in shares of Primerica by 1.2% in the fourth quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock worth $1,012,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Truist Financial lifted their price target on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods lifted 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. Piper Sandler reduced their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Morgan Stanley increased their target price on shares of Primerica from $308.00 to $313.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Primerica has an average rating of “Hold” and a consensus price target 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.