Primerica, Inc. (NYSE:PRI) President Peter W. Schneider Sells 2,000 Shares

Primerica, Inc. (NYSE:PRI) President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares in the company, valued at $3,762,852.90. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Primerica Trading Down 1.0 %

Shares of NYSE:PRI opened at $283.17 on Friday. The firm has a 50 day moving average of $283.73 and a 200-day moving average of $278.76. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The stock has a market capitalization of $9.45 billion, a PE ratio of 20.59 and a beta of 1.11.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a dividend of $1.04 per share. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.47%. Primerica’s dividend payout ratio (DPR) is 30.25%.

Primerica declared that its board has approved a stock repurchase plan on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Piper Sandler lowered their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. BMO Capital Markets started coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target on the stock. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Morgan Stanley lowered their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods boosted their price target on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $309.86.

Hedge Funds Weigh In On Primerica

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after buying an additional 25,951 shares during the last quarter. Barclays PLC increased its position in Primerica by 108.1% in the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after acquiring an additional 10,635 shares during the period. Sylvest Advisors LLC bought a new position in shares of Primerica during the fourth quarter valued at $543,000. Oak Thistle LLC lifted its holdings in shares of Primerica by 64.9% during the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after purchasing an additional 1,943 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in shares of Primerica by 10.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after purchasing an additional 11,612 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services 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.