Bank of America Corp DE decreased its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 11.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,005 shares of the financial services provider's stock after selling 5,788 shares during the period. Bank of America Corp DE owned about 0.14% of Primerica worth $11,273,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in PRI. SJS Investment Consulting Inc. grew its holdings in Primerica by 176.2% in the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock worth $29,000 after purchasing an additional 74 shares during the last quarter. Root Financial Partners LLC raised its holdings in shares of Primerica by 52.6% during the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock worth $44,000 after purchasing an additional 61 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Primerica by 68.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider's stock valued at $47,000 after buying an additional 73 shares during the period. Torren Management LLC purchased a new position in shares of Primerica during the 4th quarter valued at approximately $50,000. Finally, Steph & Co. boosted its stake in shares of Primerica by 38.0% during the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider's stock worth $49,000 after acquiring an additional 54 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Primerica
In related news, Director Amber Lynne Cottle sold 279 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the completion of the transaction, the director directly owned 3,549 shares of the company's stock, valued at $1,113,072.87. The trade was a 7.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $320.20, for a total value of $480,300.00. Following the completion of the transaction, the chief executive officer owned 32,196 shares of the company's stock, valued at $10,309,159.20. The trade was a 4.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 5,079 shares of company stock worth $1,551,308. Corporate insiders own 0.63% of the company's stock.
Primerica Stock Performance
Primerica stock opened at $294.95 on Friday. The company's 50 day simple moving average is $303.34 and its 200-day simple moving average is $278.03. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $327.28. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 11.85 and a beta of 0.87.
Primerica (NYSE:PRI - Get Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.03 by $0.38. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The company had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. During the same quarter in the previous year, the company earned $5.46 earnings per share. The firm's quarterly revenue was up 9.0% compared to the same quarter last year. Equities analysts expect that Primerica, Inc. will post 25.02 earnings per share for the current year.
Primerica Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 21st will be paid a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. Primerica's dividend payout ratio (DPR) is presently 19.28%.
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $323.00 to $335.00 and gave the company a "market perform" rating in a research report on Tuesday, August 11th. TD Cowen boosted their price target on shares of Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Primerica from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Jefferies Financial Group lifted their price target on shares of Primerica from $266.00 to $268.00 and gave the company a "hold" rating in a research report on Friday, July 10th. Finally, Morgan Stanley upped their price objective on Primerica from $280.00 to $291.00 and gave the company an "equal weight" rating in a report on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $310.67.
View Our Latest Report on PRI
About Primerica
(
Free Report)
Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica's core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.
In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.
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