Commerce Bank Sells 1,345 Shares of Primerica, Inc. (NYSE:PRI)

Commerce Bank decreased its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,186 shares of the financial services provider's stock after selling 1,345 shares during the period. Commerce Bank's holdings in Primerica were worth $3,036,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Primerica by 108.1% in the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock valued at $5,428,000 after purchasing an additional 10,635 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Primerica by 2.2% in the third quarter. SkyView Investment Advisors LLC now owns 6,408 shares of the financial services provider's stock valued at $1,699,000 after buying an additional 137 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Primerica during the 3rd quarter valued at $336,000. Forthright Family Wealth Advisory LLC bought a new position in shares of Primerica during the 3rd quarter worth $202,000. Finally, GAMMA Investing LLC increased its holdings in Primerica by 14.9% in the 4th quarter. GAMMA Investing LLC now owns 1,128 shares of the financial services provider's stock worth $306,000 after acquiring an additional 146 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Stock Performance

Primerica stock traded down $1.89 during midday trading on Friday, hitting $261.63. 112,799 shares of the company's stock were exchanged, compared to its average volume of 158,621. The company has a market cap of $8.66 billion, a P/E ratio of 19.03 and a beta of 1.03. The stock has a 50-day moving average price of $273.00 and a two-hundred day moving average price of $281.07. Primerica, Inc. has a 52-week low of $211.53 and a 52-week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. As a group, sell-side analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a dividend of $1.04 per share. This is an increase from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, February 21st. Primerica's payout ratio is currently 30.25%.

Insider Buying and Selling

In other news, insider Nicholas Adam Jendusa sold 234 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the sale, the insider now directly owns 200 shares in the company, valued at approximately $56,030. The trade was a 53.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,234 shares of company stock worth $1,476,575. Corporate insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

PRI has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their target price on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price objective for the company. StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Finally, Morgan Stanley reduced their price target on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $309.14.

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.