Primerica (NYSE:PRI) Stock Price Down 0.2% Following Insider Selling

Primerica, Inc. (NYSE:PRI)’s share price traded down 0.2% on Thursday following insider selling activity. The stock traded as low as $280.32 and last traded at $285.29. 16,243 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 139,680 shares. The stock had previously closed at $285.93.

Specifically, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was 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 owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares of the company’s stock, valued at $56,030. This trade represents a 53.92 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Truist Financial upped their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. TD Cowen upped their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods increased their price target on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley cut their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $309.86.

Primerica Stock Performance

The firm has a 50 day moving average price of $283.93 and a two-hundred day moving average price of $278.89. The company has a market cap of $9.37 billion, a P/E ratio of 20.42 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 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The business 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 a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.48%. Primerica’s dividend payout ratio is 30.25%.

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

Institutional Trading of Primerica

Institutional investors have recently added to or reduced their stakes in the stock. Colonial Trust Co SC purchased a new stake in shares of Primerica in the 4th quarter valued at about $25,000. True Wealth Design LLC purchased a new stake in shares of Primerica in the 4th quarter valued at about $27,000. Prospera Private Wealth LLC purchased a new stake in shares of Primerica in the 3rd quarter valued at about $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Primerica in the 4th quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of 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 acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

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.