Primerica Inc. (NYSE:PRI) insider William A. Kelly sold 1,500 shares of the stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $57.11, for a total transaction of $85,665.00. Following the transaction, the insider now owns 23,630 shares of the company’s stock, valued at approximately $1,349,509.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Primerica Inc. (NYSE:PRI) opened at 52.69 on Friday. Primerica Inc. has a 52 week low of $37.09 and a 52 week high of $59.34. The stock has a market capitalization of $2.45 billion, a P/E ratio of 12.86 and a beta of 0.80. The company has a 50-day moving average of $56.13 and a 200-day moving average of $52.74.
Primerica (NYSE:PRI) last issued its earnings results on Monday, August 8th. The company reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.13. Primerica had a return on equity of 17.32% and a net margin of 13.90%. The business earned $379.24 million during the quarter, compared to analyst estimates of $370.76 million. During the same quarter in the previous year, the firm earned $0.93 EPS. Primerica’s revenue was up 8.2% on a year-over-year basis. On average, analysts anticipate that Primerica Inc. will post $4.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Wednesday, August 24th were given a $0.18 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.37%. Primerica’s payout ratio is 17.56%.
A number of institutional investors have recently modified their holdings of PRI. LS Investment Advisors LLC raised its position in shares of Primerica by 72.9% in the second quarter. LS Investment Advisors LLC now owns 2,853 shares of the company’s stock worth $163,000 after buying an additional 1,203 shares during the period. Huntington National Bank raised its position in shares of Primerica by 4.2% in the second quarter. Huntington National Bank now owns 2,969 shares of the company’s stock worth $170,000 after buying an additional 119 shares during the period. Calvert Investment Management Inc. acquired a new position in shares of Primerica during the second quarter worth $200,000. M&T Bank Corp raised its position in shares of Primerica by 5.7% in the first quarter. M&T Bank Corp now owns 4,613 shares of the company’s stock worth $205,000 after buying an additional 247 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of Primerica during the second quarter worth $207,000.
A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered shares of Primerica from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $58.00 to $60.00 in a research report on Tuesday, July 12th. Zacks Investment Research upgraded shares of Primerica from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, July 12th. Finally, Wells Fargo & Co. assumed coverage on shares of Primerica in a research report on Thursday, September 22nd. They issued a “market perform” rating for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $61.50.
Primerica Company Profile
Primerica Inc (Primerica) distributes financial products to middle-income households. The Company operates through three segments. 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.
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