Primerica (NYSE:PRI) Director Amber Lynne Cottle Sells 279 Shares of Stock

Key Points

• Primerica director Amber Lynne Cottle sold 279 shares at an average price of $313.63, generating $87,502.77 and reducing her direct ownership by 7.29% to 3,549 shares.
• Primerica’s latest quarterly results beat expectations on earnings, with EPS of $6.41 versus the $6.03 consensus, while revenue rose 9% year over year to $865.07 million but fell short of estimates.
• 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 a target price of $310.67.

Primerica, Inc. (NYSE:PRI - Get Free Report) Director Amber Lynne Cottle sold 279 shares of Primerica stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total value of $87,502.77. Following the sale, the director directly owned 3,549 shares in the company, valued at approximately $1,113,072.87. This trade represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Primerica Stock Down 0.2%

Primerica stock traded down $0.59 during trading hours on Tuesday, hitting $312.93. The stock had a trading volume of 148,379 shares, compared to its average volume of 205,750. The company has a 50-day moving average of $296.40 and a two-hundred day moving average of $275.14. The company has a market cap of $9.76 billion, a PE ratio of 12.57 and a beta of 0.87. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $327.28.

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

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be paid 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 payout ratio is currently 19.28%.

Wall Street Analyst Weigh In

PRI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Primerica from $323.00 to $335.00 and gave the stock a "market perform" rating in a report on Tuesday. Weiss Ratings upgraded shares of Primerica from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, July 24th. TD Cowen lifted their price objective on Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Jefferies Financial Group upped their price objective on Primerica from $266.00 to $268.00 and gave the company a "hold" rating in a research note on Friday, July 10th. Finally, Morgan Stanley increased their target price on Primerica from $280.00 to $291.00 and gave the stock an "equal weight" rating in a report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $310.67.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PRI. V Square Quantitative Management LLC bought a new stake in Primerica during the 4th quarter worth approximately $30,000. SJS Investment Consulting Inc. raised its position in Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 74 shares during the last quarter. Root Financial Partners LLC boosted its stake in Primerica by 52.6% in the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock worth $44,000 after purchasing an additional 61 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Primerica by 68.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider's stock worth $47,000 after purchasing an additional 73 shares in the last quarter. Finally, Torren Management LLC bought a new stake in shares of Primerica during the fourth quarter worth $50,000. Institutional investors own 90.88% of the company's stock.

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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