Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams Sells 4,000 Shares

Primerica, Inc. (NYSE:PRIGet Rating) CEO Glenn J. Williams sold 4,000 shares of Primerica stock in a transaction on Monday, November 21st. The shares were sold at an average price of $142.38, for a total value of $569,520.00. Following the sale, the chief executive officer now directly owns 54,215 shares in the company, valued at approximately $7,719,131.70. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Primerica Trading Up 0.8 %

Shares of PRI stock opened at $143.79 on Tuesday. Primerica, Inc. has a 1-year low of $110.22 and a 1-year high of $159.47. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 20.28 and a beta of 1.24. The stock’s fifty day simple moving average is $134.17 and its 200-day simple moving average is $127.59.

Primerica (NYSE:PRIGet Rating) last issued its earnings results on Tuesday, November 8th. The financial services provider reported $3.02 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.08. Primerica had a return on equity of 22.96% and a net margin of 10.01%. The firm had revenue of $673.29 million for the quarter, compared to the consensus estimate of $675.99 million. During the same quarter in the previous year, the company posted $2.98 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts predict that Primerica, Inc. will post 10.99 EPS for the current year.

Primerica declared that its board has authorized a stock repurchase program on Thursday, August 11th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 22nd will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.53%. Primerica’s dividend payout ratio is currently 31.03%.

Hedge Funds Weigh In On Primerica

Several large investors have recently made changes to their positions in the business. FourThought Financial LLC raised its holdings in Primerica by 36.0% in the 3rd quarter. FourThought Financial LLC now owns 487 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 129 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Primerica by 3.2% in the 3rd quarter. Captrust Financial Advisors now owns 2,760 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 86 shares during the period. Neuberger Berman Group LLC bought a new stake in Primerica during the 3rd quarter worth approximately $319,000. Dana Investment Advisors Inc. grew its position in Primerica by 89.6% during the 3rd quarter. Dana Investment Advisors Inc. now owns 4,227 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 1,997 shares during the last quarter. Finally, Algert Global LLC bought a new stake in Primerica during the 3rd quarter worth approximately $1,048,000. Institutional investors and hedge funds own 91.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial boosted their price objective on Primerica from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. William Blair downgraded Primerica from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 10th. Morgan Stanley boosted their price objective on Primerica from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 17th. Finally, initiated coverage on Primerica in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Primerica currently has an average rating of “Hold” and a consensus target price of $161.40.

About Primerica

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Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.

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