Comerica Bank Decreases Holdings in Primerica, Inc. $PRI

Key Points

• Comerica Bank cut its stake in Primerica by 47.3% in Q4, selling 14,238 shares and leaving it with 15,832 shares worth about $4.09 million.
• Insider sales: President Peter W. Schneider sold 1,800 shares and CEO Glenn J. Williams sold 2,500 shares in recent months, leaving insiders with roughly 0.63% ownership.
• Primerica beat quarterly expectations (EPS $6.13 vs. $5.69 est.), raised its quarterly dividend to $1.20 ($4.80 annual, 1.7% yield), but analysts maintain a consensus "Hold" rating with an average price target of $293.60.

Comerica Bank decreased its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 47.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,832 shares of the financial services provider's stock after selling 14,238 shares during the period. Comerica Bank's holdings in Primerica were worth $4,090,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PRI. Root Financial Partners LLC purchased a new stake in Primerica during the third quarter valued at approximately $27,000. Smartleaf Asset Management LLC raised its holdings in shares of Primerica by 186.5% in the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider's stock worth $29,000 after buying an additional 69 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Primerica in the fourth quarter worth $30,000. Quent Capital LLC purchased a new position in shares of Primerica in the third quarter worth $33,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of Primerica by 620.0% in the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider's stock worth $60,000 after buying an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Activity

In other news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total value of $454,284.00. Following the sale, the president owned 11,611 shares in the company, valued at $2,930,384.18. This trade represents a 13.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total transaction of $641,025.00. Following the completion of the sale, the chief executive officer owned 27,392 shares in the company, valued at approximately $7,023,582.72. This trade represents a 8.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.63% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on PRI shares. Zacks Research cut shares of Primerica from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Keefe, Bruyette & Woods reaffirmed a "hold" rating and issued a $290.00 price target on shares of Primerica in a report on Thursday, March 26th. Weiss Ratings raised shares of Primerica from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 6th. Morgan Stanley decreased their price target on shares of Primerica from $292.00 to $285.00 and set an "equal weight" rating for the company in a report on Tuesday, March 3rd. Finally, TD Cowen reaffirmed a "buy" rating on shares of Primerica in a report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $293.60.

Primerica Stock Performance

PRI opened at $276.80 on Friday. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $288.03. The company has a fifty day moving average of $260.45 and a two-hundred day moving average of $260.13. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 12.07 and a beta of 0.91.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share for the quarter, beating analysts' consensus estimates of $5.69 by $0.44. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The company had revenue of $853.51 million during the quarter, compared to analysts' expectations of $839.65 million. During the same quarter in the previous year, the company earned $5.03 earnings per share. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Primerica, Inc. will post 23.84 earnings per share for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. This is a positive change from Primerica's previous quarterly dividend of $1.04. The ex-dividend date was Monday, February 23rd. Primerica's dividend payout ratio (DPR) is 20.93%.

About Primerica

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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