Primerica, Inc. (NYSE:PRI) President Sells $565,800.00 in Stock

Primerica, Inc. (NYSE:PRI - Get Free Report) President Peter W. Schneider sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now directly owns 13,301 shares of the company's stock, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Primerica Stock Performance

Shares of PRI stock traded down $2.39 during midday trading on Friday, reaching $280.74. 130,509 shares of the company were exchanged, compared to its average volume of 142,398. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The company has a market cap of $9.34 billion, a P/E ratio of 20.42 and a beta of 1.12. The company's 50 day moving average price is $283.93 and its two-hundred day moving average price is $279.03.

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

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Primerica announced that its board has approved a share repurchase program on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Primerica Increases Dividend

The firm also recently announced 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 is an increase from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, February 21st. Primerica's payout ratio is presently 30.25%.

Institutional Trading of Primerica

A number of hedge funds and other institutional investors have recently made changes to their positions in PRI. Colonial Trust Co SC acquired a new stake in shares of Primerica during the fourth quarter valued at approximately $25,000. True Wealth Design LLC acquired a new stake in shares of Primerica during the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Primerica during the third quarter valued at approximately $31,000. Golden State Wealth Management LLC acquired a new stake in shares of Primerica during the fourth quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 71 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PRI has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. BMO Capital Markets assumed coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price target for the company. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Finally, Piper Sandler decreased their price target on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $309.86.

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.