Primerica, Inc. (NYSE:PRI) Director Barbara A. Yastine sold 1,846 shares of the business’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $124.51, for a total transaction of $229,845.46. Following the completion of the sale, the director now owns 12,985 shares of the company’s stock, valued at approximately $1,616,762.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
NYSE PRI traded up $0.37 on Monday, hitting $121.79. 184,400 shares of the company’s stock traded hands, compared to its average volume of 211,115. Primerica, Inc. has a 1-year low of $84.60 and a 1-year high of $128.35. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 22.02 and a beta of 1.13.
Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, August 7th. The financial services provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.81 by $0.12. Primerica had a net margin of 21.55% and a return on equity of 21.07%. The business had revenue of $467.82 million during the quarter, compared to analysts’ expectations of $466.82 million. During the same period in the previous year, the business posted $1.36 EPS. Sell-side analysts forecast that Primerica, Inc. will post 7.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Tuesday, August 21st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Monday, August 20th. Primerica’s dividend payout ratio is currently 18.12%.
Several institutional investors and hedge funds have recently bought and sold shares of PRI. Wells Fargo & Company MN lifted its stake in shares of Primerica by 2.3% in the 1st quarter. Wells Fargo & Company MN now owns 838,510 shares of the financial services provider’s stock valued at $81,000,000 after purchasing an additional 19,142 shares during the period. Mackay Shields LLC acquired a new position in Primerica during the first quarter worth $2,023,000. Chicago Equity Partners LLC raised its position in Primerica by 19.1% during the first quarter. Chicago Equity Partners LLC now owns 13,350 shares of the financial services provider’s stock worth $1,290,000 after acquiring an additional 2,140 shares during the period. Great Lakes Advisors LLC acquired a new position in Primerica during the first quarter worth $660,000. Finally, Schwab Charles Investment Management Inc. raised its position in Primerica by 3.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 344,066 shares of the financial services provider’s stock worth $33,237,000 after acquiring an additional 12,493 shares during the period. Hedge funds and other institutional investors own 88.78% of the company’s stock.
Several equities research analysts have recently commented on the stock. Citigroup lowered shares of Primerica from a “neutral” rating to a “sell” rating and boosted their price target for the company from $100.00 to $108.00 in a report on Tuesday, September 18th. Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research report on Saturday, August 11th. SunTrust Banks lifted their price objective on shares of Primerica to $118.00 and gave the stock a “hold” rating in a research report on Monday, July 30th. ValuEngine raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $112.00 target price on shares of Primerica in a research report on Thursday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $114.40.
Primerica Company Profile
Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.
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