Glenn J. Williams Sells 3,000 Shares of Primerica, Inc. (NYSE:PRI) Stock

Primerica, Inc. (NYSE:PRI - Get Free Report) CEO Glenn J. Williams sold 3,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Primerica Trading Down 2.0 %

Shares of Primerica stock traded down $5.50 during trading on Friday, reaching $273.38. The company's stock had a trading volume of 115,086 shares, compared to its average volume of 140,887. The stock has a 50-day moving average price of $281.95 and a two-hundred day moving average price of $276.58. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The stock has a market capitalization of $9.12 billion, a P/E ratio of 19.88 and a beta of 1.11.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. As a group, sell-side analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.52%. This is a boost from Primerica's previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, February 21st. Primerica's payout ratio is currently 26.18%.

Primerica announced that its Board of Directors has authorized a stock buyback program on Thursday, November 14th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PRI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research note on Tuesday. TD Cowen lifted their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a report on Friday, November 8th. Morgan Stanley lifted their price objective on Primerica from $308.00 to $313.00 and gave the company an "equal weight" rating in a report on Friday, February 14th. Finally, BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price objective for the company. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $311.14.

Institutional Trading of Primerica

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRI. Creative Planning raised its holdings in Primerica by 0.7% during the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider's stock worth $1,613,000 after purchasing an additional 40 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Primerica during the 3rd quarter worth about $31,000. Blue Trust Inc. raised its holdings in Primerica by 247.4% during the 3rd quarter. Blue Trust Inc. now owns 667 shares of the financial services provider's stock worth $177,000 after purchasing an additional 475 shares during the last quarter. Raymond James & Associates raised its holdings in Primerica by 4.6% during the 3rd quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider's stock worth $32,176,000 after purchasing an additional 5,323 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Primerica during the 3rd quarter worth about $115,000. 90.88% of the stock is owned by institutional investors.

Primerica Company Profile

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.