Peter Schneider Sells 1,800 Shares of Primerica (NYSE:PRI) Stock
by Amy Steele · The Cerbat GemPrimerica, Inc. (NYSE:PRI – Get Free Report) President Peter Schneider sold 1,800 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the sale, the president directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This trade represents a 15.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Primerica Stock Down 0.6%
Shares of Primerica stock traded down $1.77 during mid-day trading on Tuesday, hitting $278.88. The stock had a trading volume of 136,870 shares, compared to its average volume of 210,587. The firm has a 50-day moving average of $263.59 and a two-hundred day moving average of $260.74. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $288.03. The firm has a market cap of $8.70 billion, a P/E ratio of 11.69 and a beta of 0.91.
Primerica (NYSE:PRI – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, beating the consensus estimate of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The business had revenue of $872.30 million during the quarter, compared to analysts’ expectations of $855.36 million. During the same quarter in the prior year, the company posted $5.02 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts expect that Primerica, Inc. will post 24.08 earnings per share for the current year.
Primerica Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 21st will be paid a $1.20 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Primerica’s dividend payout ratio is 20.13%.
Institutional Investors Weigh In On Primerica
Institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can lifted its holdings 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 buying an additional 1,287,243 shares in the last quarter. Geode Capital Management LLC boosted its position in Primerica by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock valued at $205,011,000 after buying an additional 37,014 shares during the period. Dimensional Fund Advisors LP boosted its position in Primerica by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider’s stock valued at $162,950,000 after buying an additional 7,628 shares during the period. First Trust Advisors LP boosted its position in Primerica by 4.7% in the 1st quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider’s stock valued at $132,556,000 after buying an additional 23,850 shares during the period. Finally, Invesco Ltd. boosted its position in Primerica by 200.3% in the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock valued at $92,414,000 after buying an additional 238,571 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on PRI shares. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Primerica in a research report on Wednesday, May 6th. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Morgan Stanley cut their price objective on Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. Finally, TD Cowen reiterated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus target price of $296.60.
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.