Primerica (NYSE:PRI) Trading Down 0.2% on Insider Selling

Primerica, Inc. (NYSE:PRI) shares were down 0.2% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $280.32 and last traded at $285.29. Approximately 16,243 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 139,680 shares. The stock had previously closed at $285.93.

Specifically, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the sale, the insider now owns 200 shares of the company’s stock, valued at $56,030. The trade was a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Truist Financial boosted their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. 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 research note on Tuesday, November 26th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Finally, Morgan Stanley reduced their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Primerica has a consensus rating of “Hold” and an average price target of $309.86.

Primerica Price Performance

The business’s 50-day moving average price is $283.73 and its two-hundred day moving average price is $278.76. The company has a market capitalization of $9.45 billion, a P/E ratio of 20.59 and a beta of 1.11.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 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%. Research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is 30.25%.

Primerica declared that its board has approved 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 reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Primerica

Institutional investors have recently bought and sold shares of the business. Jefferies Financial Group Inc. bought a new position in shares of Primerica during the 4th quarter worth approximately $2,921,000. Burgundy Asset Management Ltd. lifted its stake in shares of Primerica by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider’s stock worth $349,717,000 after buying an additional 21,208 shares during the last quarter. Vise Technologies Inc. bought a new stake in shares of Primerica during the 4th quarter worth about $368,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Primerica by 9.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,679 shares of the financial services provider’s stock valued at $38,726,000 after acquiring an additional 11,737 shares during the period. Finally, Voloridge Investment Management LLC lifted its position in Primerica by 527.1% during the fourth quarter. Voloridge Investment Management LLC now owns 42,816 shares of the financial services provider’s stock worth $11,621,000 after acquiring an additional 35,988 shares during the last quarter. Institutional investors and hedge funds 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.