First Trust Advisors LP Sells 18,463 Shares of Primerica, Inc. (NYSE:PRI)

First Trust Advisors LP trimmed its position in Primerica, Inc. (NYSE:PRI - Free Report) by 44.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,952 shares of the financial services provider's stock after selling 18,463 shares during the period. First Trust Advisors LP owned approximately 0.07% of Primerica worth $6,230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of Primerica during the 4th quarter worth about $33,000. EverSource Wealth Advisors LLC grew its holdings in Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock worth $34,000 after purchasing an additional 71 shares during the period. Venturi Wealth Management LLC increased its position in Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock worth $58,000 after buying an additional 115 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Primerica by 65.5% in the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider's stock valued at $65,000 after buying an additional 95 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Primerica by 182.2% during the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider's stock worth $69,000 after acquiring an additional 164 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Morgan Stanley cut their price objective on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. BMO Capital Markets began coverage on Primerica in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 target price on the stock. Finally, Keefe, Bruyette & Woods reduced their price target on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $309.14.

Primerica Price Performance

Shares of NYSE:PRI traded up $0.36 during mid-day trading on Tuesday, hitting $263.91. The company had a trading volume of 6,997 shares, compared to its average volume of 157,763. Primerica, Inc. has a one year low of $211.54 and a one year high of $307.91. The firm has a fifty day moving average price of $271.24 and a 200 day moving average price of $280.45. The company has a market capitalization of $8.73 billion, a PE ratio of 19.23 and a beta of 1.02.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a dividend of $1.04 per share. This is a positive change from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Friday, February 21st. Primerica's payout ratio is currently 30.25%.

Insider Transactions at Primerica

In other news, insider Nicholas Adam Jendusa sold 234 shares of the business's 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 in the company, valued at $56,030. The trade was a 53.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock valued at $1,476,575 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Primerica Profile

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.