Primerica (NYSE:PRI) Shares Down 1.1% After Insider Selling

Primerica, Inc. (NYSE:PRI - Get Free Report)'s share price was down 1.1% on Thursday following insider selling activity. The stock traded as low as $276.65 and last traded at $277.36. Approximately 10,204 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 137,521 shares. The stock had previously closed at $280.40.

Specifically, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now directly 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 accessible through this link.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PRI shares. BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price target for the company. Truist Financial boosted their price target on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a report on Friday, November 8th. Morgan Stanley boosted their price target on Primerica from $308.00 to $313.00 and gave the company an "equal weight" rating in a report on Friday, February 14th. Piper Sandler cut their price target on Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a report on Wednesday, December 18th. Finally, TD Cowen boosted their price target on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $311.14.

Primerica Trading Down 2.0 %

The company's 50 day moving average price is $281.95 and its 200-day moving average price is $276.58. The company has a market capitalization of $9.12 billion, a PE ratio of 19.88 and a beta of 1.11.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (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%. As a group, analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current 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 given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.52%. This is a boost from Primerica's previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. Primerica's dividend payout ratio is 26.18%.

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

Institutional Trading of Primerica

Institutional investors have recently added to or reduced their stakes in the business. Colonial Trust Co SC purchased a new stake in Primerica during the 4th quarter worth $25,000. True Wealth Design LLC purchased a new position in Primerica in the 4th quarter valued at about $27,000. Prospera Private Wealth LLC purchased a new position in Primerica in the 3rd quarter valued at about $31,000. Golden State Wealth Management LLC purchased a new position in Primerica in the 4th quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC boosted its position in Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock valued at $34,000 after buying an additional 71 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other 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.