Primerica (PRI) to Buyback $275.00 million in Stock

Share on StockTwits

Primerica (NYSE:PRI) announced that its board has initiated a share repurchase plan, which authorizes the company to repurchase $275.00 million in outstanding shares on Thursday, February 7th. This repurchase authorization authorizes the financial services provider to buy up to 5.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Shares of PRI opened at $118.05 on Friday. The stock has a market capitalization of $5.07 billion, a P/E ratio of 16.11 and a beta of 1.39. Primerica has a 12-month low of $90.05 and a 12-month high of $128.35.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Thursday, February 7th. The financial services provider reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.13. The firm had revenue of $487.33 million for the quarter, compared to analyst estimates of $486.75 million. Primerica had a net margin of 17.06% and a return on equity of 22.78%. Primerica’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.60 EPS. As a group, equities analysts predict that Primerica will post 8.08 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Wednesday, February 20th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, February 19th. This is a positive change from Primerica’s previous quarterly dividend of $0.25. This represents a $1.36 dividend on an annualized basis and a yield of 1.15%. Primerica’s dividend payout ratio is 13.64%.

Several brokerages have issued reports on PRI. Credit Suisse Group began coverage on shares of Primerica in a research note on Friday, January 18th. They set an “outperform” rating and a $135.00 target price on the stock. Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research note on Wednesday, November 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Primerica presently has a consensus rating of “Hold” and a consensus price target of $117.83.

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $116.21, for a total transaction of $348,630.00. Following the sale, the chief executive officer now directly owns 65,287 shares in the company, valued at $7,587,002.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alison S. Rand sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $113.03, for a total transaction of $226,060.00. Following the sale, the chief financial officer now owns 20,861 shares in the company, valued at $2,357,918.83. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock worth $814,290 over the last quarter. Insiders own 0.89% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Primerica (PRI) to Buyback $275.00 million in Stock” was reported by Macon Daily and is the sole property of of Macon Daily. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be viewed at

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.

Read More: What is the strike price in options trading?

Receive News & Ratings for Primerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primerica and related companies with's FREE daily email newsletter.

Leave a Reply