Nicholas Adam Jendusa Sells 234 Shares of Primerica, Inc. (NYSE:PRI) Stock

Primerica, Inc. (NYSE:PRI) insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the sale, the insider now owns 200 shares of the company’s stock, valued at approximately $56,030. This represents a 53.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Primerica Stock Performance

NYSE PRI traded up $4.34 during trading on Wednesday, hitting $286.04. 124,577 shares of the company’s stock traded hands, compared to its average volume of 142,683. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 20.80 and a beta of 1.11. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The business has a 50 day moving average of $283.23 and a 200-day moving average of $278.67.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently declared 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. 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 dividend yield of 1.45%. Primerica’s payout ratio is 30.25%.

Primerica announced that its Board of Directors has initiated a share repurchase program on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

PRI has been the topic of several recent analyst reports. TD Cowen lifted their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price target 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 upped their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Finally, Piper Sandler reduced their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $309.86.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc lifted its position in Primerica by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock worth $279,000 after buying an additional 36 shares during the last quarter. Mariner LLC lifted its holdings in shares of Primerica by 1.4% in the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider’s stock worth $709,000 after acquiring an additional 36 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of Primerica by 0.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock worth $1,549,000 after acquiring an additional 43 shares during the last quarter. Dana Investment Advisors Inc. boosted its stake in shares of Primerica by 1.2% in the 4th quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock valued at $1,012,000 after purchasing an additional 45 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 54 shares during the last quarter. Institutional investors 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.