Primerica (NYSE:PRI) Trading Down 0.9% on Insider Selling

Primerica, Inc. (NYSE:PRI)’s share price fell 0.9% during trading on Friday following insider selling activity. The company traded as low as $280.75 and last traded at $280.53. 24,821 shares were traded during trading, a decline of 82% from the average session volume of 139,757 shares. The stock had previously closed at $283.13.

Specifically, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction that occurred 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 owns 13,301 shares of the company’s stock, valued at $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction that occurred 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 directly owns 200 shares in the company, valued at $56,030. The trade was a 53.92 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. TD Cowen upped their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods upped their target price on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Piper Sandler decreased their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Finally, Morgan Stanley decreased their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Primerica currently has an average rating of “Hold” and an average price target of $309.86.

Primerica Stock Down 0.8 %

The firm has a market capitalization of $9.34 billion, a P/E ratio of 20.42 and a beta of 1.12. The firm has a 50 day moving average of $283.93 and a 200-day moving average of $279.03.

Primerica (NYSE:PRI) last issued its quarterly earnings results 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 return on equity of 31.11% and a net margin of 15.14%. As a group, research analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.48%. Primerica’s dividend payout ratio is presently 30.25%.

Primerica announced that its board has authorized a stock 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Primerica

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Colonial Trust Co SC bought a new stake in Primerica during the fourth quarter worth $25,000. True Wealth Design LLC bought a new stake in Primerica during the fourth quarter worth $27,000. Prospera Private Wealth LLC bought a new stake in Primerica during the third quarter worth $31,000. Golden State Wealth Management LLC bought a new stake in Primerica during the fourth quarter worth $33,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 71 shares during the last quarter. 90.88% of the stock is currently 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.