Bank of New York Mellon Corp Has $80.54 Million Holdings in Primerica, Inc. $PRI

Bank of New York Mellon Corp cut its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 311,752 shares of the financial services provider's stock after selling 4,156 shares during the period. Bank of New York Mellon Corp owned approximately 0.98% of Primerica worth $80,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vista Investment Partners II LLC bought a new stake in Primerica during the 4th quarter worth about $1,685,000. First Trust Advisors LP lifted its position in Primerica by 12.4% during the 3rd quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider's stock worth $136,597,000 after buying an additional 54,158 shares in the last quarter. M&T Bank Corp lifted its position in Primerica by 1,155.8% during the 4th quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider's stock worth $8,303,000 after buying an additional 29,578 shares in the last quarter. Prana Capital Management LP lifted its position in Primerica by 22.8% during the 3rd quarter. Prana Capital Management LP now owns 66,916 shares of the financial services provider's stock worth $18,575,000 after buying an additional 12,432 shares in the last quarter. Finally, Moran Wealth Management LLC lifted its position in Primerica by 168.6% during the 4th quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider's stock worth $5,302,000 after buying an additional 12,881 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Performance

Shares of PRI stock opened at $263.26 on Tuesday. The firm's 50-day moving average is $269.49 and its 200-day moving average is $262.18. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 11.04 and a beta of 0.88. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $288.03.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.45 by $0.51. The company had revenue of $872.30 million for the quarter, compared to analysts' expectations of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. Primerica's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.02 EPS. Sell-side analysts predict that Primerica, Inc. will post 24.45 EPS for the current fiscal year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 21st will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, May 21st. Primerica's dividend payout ratio is currently 20.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PRI shares. Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $290.00 to $305.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 13th. Morgan Stanley boosted their price target on shares of Primerica from $280.00 to $291.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 21st. Zacks Research cut shares of Primerica from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Finally, Weiss Ratings raised shares of Primerica from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $297.80.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president owned 9,811 shares in the company, valued at $2,743,548.04. This represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by insiders.

Primerica Company Profile

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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