Primerica (NYSE:PRI) President Sells $562,770.00 in Stock

Key Points

• Primerica President Peter Schneider sold 1,800 shares for approximately $562,770 under a pre-arranged Rule 10b5-1 trading plan, reducing his direct holdings by 18.35% to 8,011 shares.
• Primerica’s latest quarterly results exceeded expectations, with EPS of $6.41 versus the $6.03 consensus estimate and revenue up 9% year over year, although revenue fell short of forecasts.
• The company declared a quarterly dividend of $1.20 per share, equivalent to an annualized $4.80 payout and a 1.6% yield; analysts maintain a consensus “Hold” rating with a $310.67 price target.

Primerica, Inc. (NYSE:PRI - Get Free Report) President Peter Schneider sold 1,800 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $312.65, for a total value of $562,770.00. Following the sale, the president directly owned 8,011 shares in the company, valued at approximately $2,504,639.15. The trade was a 18.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Primerica Stock Performance

PRI traded down $4.21 on Monday, hitting $309.48. The company had a trading volume of 149,547 shares, compared to its average volume of 204,577. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of 12.43 and a beta of 0.87. The stock has a fifty day moving average price of $300.57 and a 200-day moving average price of $276.67. Primerica, Inc. has a 12-month low of $230.09 and a 12-month 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 the consensus estimate of $6.03 by $0.38. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The business had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. During the same period in the prior year, the firm posted $5.46 earnings per share. The company's quarterly revenue was up 9.0% on a year-over-year basis. Analysts forecast that Primerica, Inc. will post 24.85 EPS for the current fiscal year.

Primerica Announces Dividend

The company also recently announced 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 of this dividend is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. Primerica's dividend payout ratio is presently 19.28%.

Analyst Ratings Changes

PRI has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Primerica from $280.00 to $291.00 and gave the stock an "equal weight" rating in a report on Thursday, May 21st. TD Cowen increased 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 raised their price objective on Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Weiss Ratings downgraded Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods upped their target price on Primerica from $323.00 to $335.00 and gave the company a "market perform" rating in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Primerica presently has a consensus rating of "Hold" and a consensus price target of $310.67.

Institutional Trading of Primerica

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Primerica in the 2nd quarter worth $848,161,000. Bank of Montreal Can lifted its position in Primerica by 5,277.5% during the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider's stock worth $338,874,000 after acquiring an additional 1,287,243 shares during the period. Bamco Inc. NY purchased a new stake in Primerica during the 2nd quarter valued at about $190,827,000. Bank of New York Mellon Corp purchased a new stake in Primerica during the 2nd quarter valued at about $79,044,000. Finally, Invesco Ltd. grew its stake in Primerica by 200.3% during the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider's stock valued at $92,414,000 after purchasing an additional 238,571 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Company Profile

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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