SVB Wealth LLC Sells 17,419 Shares of Primerica, Inc. $PRI

Key Points

• SVB Wealth LLC reduced its stake in Primerica, Inc. by 44.2%, now holding 22,014 shares valued at approximately $6.26 million.
• Primerica recently announced a quarterly dividend of $1.04, representing an annual yield of 1.5%, with the payout scheduled for September 15th.
• The stock has seen an upgrade in target prices from several brokerages, with Keefe, Bruyette & Woods raising it from $315.00 to $320.00 and Morgan Stanley from $292.00 to $308.00.

SVB Wealth LLC cut its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 44.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,014 shares of the financial services provider's stock after selling 17,419 shares during the quarter. SVB Wealth LLC owned approximately 0.07% of Primerica worth $6,264,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRI. Nuveen LLC bought a new stake in Primerica during the 1st quarter worth about $156,019,000. GAMMA Investing LLC lifted its position in Primerica by 39,199.5% during the 1st quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock worth $126,132,000 after buying an additional 442,170 shares in the last quarter. AQR Capital Management LLC lifted its position in Primerica by 254.5% during the 4th quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider's stock worth $31,558,000 after buying an additional 83,477 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Primerica by 2,508.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider's stock valued at $15,606,000 after acquiring an additional 55,295 shares during the period. Finally, Northern Trust Corp grew its position in shares of Primerica by 15.6% in the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider's stock valued at $94,194,000 after acquiring an additional 46,935 shares during the period. 90.88% of the stock is owned by institutional investors.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the transaction, the chief executive officer owned 36,392 shares in the company, valued at $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by corporate insiders.

Primerica Price Performance

PRI stock traded up $1.35 during midday trading on Tuesday, reaching $267.92. The company had a trading volume of 129,039 shares, compared to its average volume of 164,169. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of 12.58 and a beta of 0.99. The stock has a 50 day moving average price of $265.96 and a 200-day moving average price of $269.72. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91.

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

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 yield of 1.6%. The ex-dividend date is Friday, August 22nd. Primerica's payout ratio is currently 20.55%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PRI shares. Morgan Stanley lifted their price objective on shares of Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a research report on Monday, August 18th. 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 research report on Monday, August 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.