Primerica, Inc. (PRI) CEO Sells $296,010.00 in Stock

Primerica, Inc. (NYSE:PRI) CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $98.67, for a total transaction of $296,010.00. Following the completion of the sale, the chief executive officer now owns 63,095 shares of the company’s stock, valued at approximately $6,225,583.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Primerica, Inc. (NYSE PRI) traded up $0.60 during midday trading on Tuesday, hitting $100.10. 58,776 shares of the stock were exchanged, compared to its average volume of 202,338. The firm has a market cap of $4,420.00, a PE ratio of 13.10, a PEG ratio of 1.37 and a beta of 1.14. Primerica, Inc. has a one year low of $70.00 and a one year high of $108.05.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.17. The company had revenue of $442.94 million during the quarter, compared to analysts’ expectations of $435.87 million. Primerica had a net margin of 20.74% and a return on equity of 19.47%. Primerica’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.19 EPS. equities research analysts forecast that Primerica, Inc. will post 7.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Wednesday, February 14th. This is a boost from Primerica’s previous quarterly dividend of $0.20. Primerica’s dividend payout ratio (DPR) is currently 13.12%.

Primerica announced that its board has initiated a share repurchase program on Wednesday, February 7th that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Primerica by 0.9% during the 4th quarter. BlackRock Inc. now owns 4,679,499 shares of the financial services provider’s stock worth $475,203,000 after buying an additional 39,870 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Primerica by 2.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,508,400 shares of the financial services provider’s stock worth $286,111,000 after buying an additional 81,603 shares during the last quarter. Bamco Inc. NY lifted its stake in shares of Primerica by 0.3% during the 4th quarter. Bamco Inc. NY now owns 2,683,565 shares of the financial services provider’s stock worth $272,516,000 after buying an additional 7,350 shares during the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of Primerica by 2.7% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 1,681,212 shares of the financial services provider’s stock worth $137,103,000 after buying an additional 43,558 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Primerica by 0.6% during the fourth quarter. Wells Fargo & Company MN now owns 819,368 shares of the financial services provider’s stock worth $83,208,000 after acquiring an additional 4,633 shares during the period. Institutional investors own 93.20% of the company’s stock.

A number of brokerages have commented on PRI. Wells Fargo & Co set a $102.00 price target on shares of Primerica and gave the company a “hold” rating in a research note on Wednesday, February 7th. ValuEngine upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. SunTrust Banks increased their price target on shares of Primerica to $112.00 and gave the company a “hold” rating in a research note on Monday, January 22nd. Zacks Investment Research cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $95.00 target price on shares of Primerica in a research note on Friday, November 10th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $101.25.

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Primerica Company Profile

Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.

Insider Buying and Selling by Quarter for Primerica (NYSE:PRI)

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