Jane Street Group LLC lessened its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 36.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,719 shares of the financial services provider's stock after selling 11,087 shares during the quarter. Jane Street Group LLC owned approximately 0.06% of Primerica worth $5,352,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new position in shares of Primerica during the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC raised 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 valued at $34,000 after buying an additional 71 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Primerica by 116.2% in 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. boosted its stake in shares of Primerica by 65.5% during the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider's stock worth $65,000 after acquiring an additional 95 shares in 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 valued at $69,000 after acquiring an additional 164 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PRI has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Keefe, Bruyette & Woods lowered their target price on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. StockNews.com cut shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Finally, BMO Capital Markets assumed coverage on Primerica in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $309.14.
Get Our Latest Analysis on PRI
Insider Buying and Selling at Primerica
In other Primerica news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares of the company's stock, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. This represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock valued at $1,476,575 in the last 90 days. 0.61% of the stock is currently owned by company insiders.
Primerica Stock Performance
Shares of PRI opened at $268.55 on Friday. The company has a 50-day simple moving average of $269.75 and a 200-day simple moving average of $280.13. Primerica, Inc. has a 52 week low of $219.52 and a 52 week high of $307.91. The firm has a market capitalization of $8.89 billion, a P/E ratio of 19.53 and a beta of 1.02.
Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $783.54 million. During the same quarter in the prior year, the firm posted $3.91 EPS. The company's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.
Primerica Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.55%. Primerica's dividend payout ratio is currently 30.25%.
About Primerica
(
Free Report)
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.
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