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.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/09/insider-selling-primerica-inc-pri-director-sells-1406-shares-of-stock.html
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.
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.
Receive News & Ratings for Primerica Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Primerica Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.