Glenn J. Williams Sells 2,500 Shares of Primerica, Inc. (NYSE:PRI) Stock

Key Points

• Glenn J. Williams, CEO of Primerica, sold 2,500 shares of the company at an average price of $262.20, amounting to a total value of $655,500, which reduced his ownership by 6.43%.
• Primerica's stock rose 2.3% on the trading day following the sale, reaching a price of $264.24, amidst a market cap of $8.56 billion.
• The company recently announced a quarterly dividend of $1.04 per share, set to be paid on September 15th, representing an annualized dividend yield of 1.6%.

Primerica, Inc. (NYSE:PRI - Get Free Report) CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the sale, the chief executive officer directly owned 36,392 shares in the company, valued at $9,541,982.40. This trade represents a 6.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Primerica Stock Up 2.3%

NYSE:PRI traded up $5.97 during mid-day trading on Tuesday, hitting $264.24. 165,286 shares of the stock traded hands, compared to its average volume of 161,227. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The company has a market cap of $8.56 billion, a PE ratio of 13.06 and a beta of 0.99. The business's 50-day moving average price is $265.32 and its 200 day moving average price is $271.60.

Primerica (NYSE:PRI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.28. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The business had revenue of $796.02 million during the quarter, compared to analyst estimates of $790.99 million. During the same period in the previous year, the business posted $4.71 earnings per share. Primerica's revenue for the quarter was up .3% on a year-over-year basis. Analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be given a dividend of $1.04 per share. The ex-dividend date is Friday, August 22nd. This represents a $4.16 annualized dividend and a yield of 1.6%. Primerica's payout ratio is presently 20.55%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Monday. Morgan Stanley boosted their price objective on shares of Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, Jefferies Financial Group reduced their price objective on shares of Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research note on Monday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Primerica has an average rating of "Hold" and a consensus price target of $313.57.

Institutional Investors Weigh In On Primerica

Several hedge funds have recently bought and sold shares of the stock. Inceptionr LLC lifted its position in Primerica by 55.8% during the second quarter. Inceptionr LLC now owns 2,031 shares of the financial services provider's stock valued at $556,000 after purchasing an additional 727 shares during the last quarter. Boston Partners bought a new stake in Primerica during the second quarter valued at approximately $775,000. Manchester Capital Management LLC lifted its position in Primerica by 18,425.0% during the second quarter. Manchester Capital Management LLC now owns 741 shares of the financial services provider's stock valued at $203,000 after purchasing an additional 737 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Primerica by 16.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 5,000 shares of the financial services provider's stock worth $1,368,000 after acquiring an additional 692 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Primerica by 3.3% in the 2nd quarter. Prudential Financial Inc. now owns 25,241 shares of the financial services provider's stock worth $7,478,000 after acquiring an additional 810 shares during the last quarter. 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.

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