John A. Jr. Addison Sells 2,000 Shares of Primerica, Inc. (NYSE:PRI) Stock

Primerica, Inc. (NYSE:PRI) Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the sale, the director now directly owns 15,151 shares of the company’s stock, valued at approximately $3,846,081.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Primerica Stock Up 1.4 %

PRI stock opened at $253.23 on Friday. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $265.27. The company has a market cap of $8.71 billion, a PE ratio of 15.41 and a beta of 1.09. The business’s 50-day simple moving average is $251.75 and its 200 day simple moving average is $239.63.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.24. The company had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. Primerica’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.99 EPS. On average, equities research analysts anticipate that Primerica, Inc. will post 17.94 EPS for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were paid a $0.90 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date was Wednesday, August 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.42%. Primerica’s dividend payout ratio is currently 21.91%.

Hedge Funds Weigh In On Primerica

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. ORG Partners LLC acquired a new position in Primerica in the second quarter worth about $30,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock worth $45,000 after buying an additional 148 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after buying an additional 60 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Primerica in the 2nd quarter valued at $71,000. Finally, O Dell Group LLC bought a new stake in Primerica in the fourth quarter valued at $153,000. 90.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Piper Sandler assumed coverage on shares of Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 price target for the company. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley increased their target price on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Finally, Truist Financial lifted their price target on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus price target of $275.20.

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.