Logan Capital Management Inc. Cuts Stock Position in Primerica, Inc. (NYSE:PRI)

Logan Capital Management Inc. cut its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,974 shares of the financial services provider's stock after selling 2,906 shares during the period. Logan Capital Management Inc. owned about 0.12% of Primerica worth $11,121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Colonial Trust Co SC purchased a new stake in Primerica during the fourth quarter worth about $25,000. Golden State Wealth Management LLC purchased a new stake in Primerica in the fourth quarter worth $33,000. EverSource Wealth Advisors LLC lifted its position in shares of Primerica by 129.1% during the 4th 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 during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock worth $58,000 after acquiring an additional 115 shares during the period. Finally, UMB Bank n.a. raised its stake in Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider's stock valued at $65,000 after acquiring an additional 95 shares during the period. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Price Performance

NYSE PRI traded up $2.36 during trading on Thursday, hitting $275.62. 202,897 shares of the company's stock traded hands, compared to its average volume of 157,875. The firm has a market cap of $9.12 billion, a P/E ratio of 20.05 and a beta of 1.02. The stock has a fifty day moving average of $269.10 and a two-hundred day moving average of $280.03. Primerica, Inc. has a 12-month low of $219.52 and a 12-month high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.25. The firm had revenue of $803.56 million for the quarter, compared to analysts' expectations of $783.54 million. Primerica had a net margin of 15.14% and a return on equity of 31.11%. The business's revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned $3.91 earnings per share. As a group, analysts expect 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. Investors of record on Thursday, May 22nd will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.51%. Primerica's dividend payout ratio is presently 27.98%.

Wall Street Analyst Weigh In

Several research analysts recently 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 target price on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Keefe, Bruyette & Woods reduced their price objective on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. Finally, BMO Capital Markets started coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price target for the company. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $309.14.

Insider Buying and Selling at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock valued at $1,476,575 in the last 90 days. 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.