Cresset Asset Management LLC Sells 1,319 Shares of Primerica, Inc. (NYSE:PRI)

Cresset Asset Management LLC decreased its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 59.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 898 shares of the financial services provider's stock after selling 1,319 shares during the period. Cresset Asset Management LLC's holdings in Primerica were worth $244,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mariner LLC boosted its stake in Primerica by 1.4% during the fourth quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock valued at $709,000 after buying an additional 36 shares during the last quarter. Dana Investment Advisors Inc. boosted its stake in Primerica by 1.2% during the fourth quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider's stock valued at $1,012,000 after buying an additional 45 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Primerica by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider's stock valued at $301,000 after buying an additional 54 shares during the last quarter. Assetmark Inc. boosted its stake in Primerica by 3.9% during the fourth quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider's stock valued at $412,000 after buying an additional 57 shares during the last quarter. Finally, Everhart Financial Group Inc. boosted its stake in Primerica by 2.5% during the fourth quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider's stock valued at $726,000 after buying an additional 65 shares during the last quarter. Institutional investors own 90.88% of the company's stock.

Primerica Trading Down 0.7%

Shares of NYSE PRI traded down $1.80 during midday trading on Friday, hitting $266.78. The company's stock had a trading volume of 109,405 shares, compared to its average volume of 157,300. The business's 50 day moving average is $268.07 and its two-hundred day moving average is $279.92. Primerica, Inc. has a 12-month low of $219.52 and a 12-month high of $307.91. The firm has a market cap of $8.83 billion, a P/E ratio of 19.40 and a beta of 1.02.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share for the quarter, topping the consensus estimate of $4.77 by $0.25. Primerica had a return on equity of 31.11% and a net margin of 15.14%. The firm had revenue of $803.56 million for the quarter, compared to the consensus estimate of $783.54 million. During the same period in the prior year, the business posted $3.91 earnings per share. The company's revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd will be issued a $1.04 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.16 annualized dividend and a dividend yield of 1.56%. Primerica's payout ratio is 27.98%.

Analyst Ratings Changes

A number of equities analysts recently commented on PRI shares. Wall Street Zen lowered Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Morgan Stanley upped their price objective on Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research report on Monday. BMO Capital Markets assumed coverage on Primerica in a research report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price objective on the stock. Finally, Keefe, Bruyette & Woods decreased their price objective on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $308.00.

Insider Transactions at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the transaction, the insider now owns 200 shares of the company's stock, valued at $56,030. This represents a 53.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This trade represents a 13.07% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company's stock.

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.