Published On: Sat, Sep 10th, 2016

Insider Selling: Primerica Inc. (PRI) Director Sells 1,406 Shares of Stock

Primerica Inc. (NYSE:PRI) Director Joel M. Babbit sold 1,406 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $57.31, for a total transaction of $80,577.86. Following the completion of the sale, the director now directly owns 1,915 shares in the company, valued at $109,748.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Primerica Inc. (NYSE:PRI) traded down 1.59% during midday trading on Friday, hitting $56.45. 477,451 shares of the stock traded hands. Primerica Inc. has a one year low of $37.09 and a one year high of $59.34. The company has a market cap of $2.62 billion, a P/E ratio of 13.78 and a beta of 0.80. The company’s 50 day moving average is $54.68 and its 200-day moving average is $51.39.
Primerica (NYSE:PRI) last released its quarterly earnings data on Monday, August 8th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.13. The business earned $379.24 million during the quarter, compared to analysts’ expectations of $370.76 million. Primerica had a net margin of 13.90% and a return on equity of 17.32%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 EPS. On average, equities research analysts forecast that Primerica Inc. will post $4.42 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Wednesday, August 24th will be given a dividend of $0.18 per share. This is a boost from Primerica’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Monday, August 22nd. Primerica’s payout ratio is 17.56%.
PRI has been the topic of several recent research reports. Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, July 12th. Keefe, Bruyette & Woods lowered shares of Primerica from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $58.00 to $60.00 in a research note on Tuesday, July 12th.
About Primerica
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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