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

Key Points

• Primerica CEO Glenn Williams sold 1,500 shares for approximately $480,300 under a pre-arranged Rule 10b5-1 trading plan, reducing his direct holdings by 4.45% to 32,196 shares.
• Primerica shares fell 2.5% to $313.44, while the company reported quarterly EPS of $6.41, beating estimates of $6.03; revenue rose 9% year over year but came in below expectations.
• The company declared a quarterly dividend of $1.20 per share, equivalent to an annualized $4.80 payout and a 1.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $308.67.

Primerica, Inc. (NYSE:PRI - Get Free Report) CEO Glenn Williams sold 1,500 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $320.20, for a total value of $480,300.00. Following the completion of the sale, the chief executive officer directly owned 32,196 shares in the company, valued at approximately $10,309,159.20. This represents a 4.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Stock Down 2.5%

Primerica stock traded down $7.94 during mid-day trading on Monday, hitting $313.44. 216,845 shares of the company were exchanged, compared to its average volume of 206,099. The company has a market capitalization of $9.77 billion, a PE ratio of 12.59 and a beta of 0.87. The business has a fifty day moving average of $295.47 and a 200 day moving average of $274.77. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $327.28.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating analysts' consensus estimates of $6.03 by $0.38. The firm had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.46 earnings per share. Research analysts expect that Primerica, Inc. will post 24.7 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be given a dividend of $1.20 per share. The ex-dividend date is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. Primerica's dividend payout ratio is 19.28%.

Institutional Trading of Primerica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its position in shares of Primerica by 18.1% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 39 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Primerica by 1.1% in the 1st quarter. Pacer Advisors Inc. now owns 3,790 shares of the financial services provider's stock valued at $949,000 after purchasing an additional 40 shares during the period. Seeds Investor LLC boosted its stake in Primerica by 3.2% in the 4th quarter. Seeds Investor LLC now owns 1,374 shares of the financial services provider's stock valued at $355,000 after purchasing an additional 42 shares during the period. Orion Porfolio Solutions LLC grew its holdings in Primerica by 1.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider's stock valued at $1,058,000 after buying an additional 45 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its position in Primerica by 0.7% during the 4th quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider's stock worth $1,794,000 after buying an additional 46 shares during the period. 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 research analyst reports. Jefferies Financial Group increased their price objective on shares of Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a report on Friday, July 10th. TD Cowen increased their price target on shares of Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $305.00 to $323.00 and gave the company a "market perform" rating in a report on Monday, July 13th. Morgan Stanley boosted their price objective on shares of Primerica from $280.00 to $291.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 21st. Finally, Weiss Ratings raised Primerica from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $308.67.

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.

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