Comerica Bank Has $9.41 Million Position in Primerica, Inc. $PRI

Key Points

• Comerica Bank increased its holdings in Primerica, Inc. by 8.0% during Q1, owning about 0.10% of the company, valued at approximately $9.41 million.
• Wall Street analysts have mixed views on Primerica with two analysts rating it as a Buy and five as a Hold, while the current consensus price target is approximately $315.29.
• Primerica announced a quarterly dividend of $1.04, with a yield of 1.6% and a payout ratio of 20.55%, payable on September 15th.

Comerica Bank lifted its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,069 shares of the financial services provider's stock after buying an additional 2,463 shares during the quarter. Comerica Bank owned about 0.10% of Primerica worth $9,409,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PRI. Colonial Trust Co SC acquired a new stake in shares of Primerica during the 4th quarter worth approximately $25,000. True Wealth Design LLC acquired a new stake in shares of Primerica during the 4th quarter worth approximately $27,000. Headlands Technologies LLC grew its holdings in Primerica by 2,300.0% during the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 161 shares during the period. Summit Securities Group LLC acquired a new position in Primerica during the first quarter valued at approximately $64,000. Finally, Golden State Wealth Management LLC grew its holdings in Primerica by 105.7% during the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 90.88% of the company's stock.

Primerica Price Performance

PRI traded up $0.62 during trading on Friday, reaching $269.11. The company had a trading volume of 157,205 shares, compared to its average volume of 157,668. Primerica, Inc. has a 12 month low of $230.98 and a 12 month high of $307.91. The business's fifty day moving average price is $266.49 and its 200 day moving average price is $269.40. The company has a market cap of $8.72 billion, a P/E ratio of 13.30 and a beta of 0.99.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping analysts' consensus estimates of $5.18 by $0.28. The business had revenue of $796.02 million for the quarter, compared to analyst estimates of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.71 earnings per share. As a group, sell-side analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 22nd will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 22nd. Primerica's payout ratio is currently 20.55%.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the sale, the chief executive officer owned 36,392 shares of the company's stock, valued at $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PRI has been the subject of a number of analyst reports. Jefferies Financial Group decreased their price objective on shares of Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a report on Monday, August 11th. Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a report on Monday, August 11th. Finally, Morgan Stanley boosted their price objective on shares of Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Primerica currently has an average rating of "Hold" and a consensus price target of $315.29.

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.