Amalgamated Bank Lowers Holdings in Primerica, Inc. (NYSE:PRI)

Amalgamated Bank lowered its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 22.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,352 shares of the financial services provider's stock after selling 6,061 shares during the period. Amalgamated Bank owned 0.06% of Primerica worth $5,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. ORG Partners LLC purchased a new stake in Primerica in the 4th quarter worth $26,000. Sound Income Strategies LLC boosted its stake in Primerica by 121.9% during the fourth quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider's stock valued at $48,000 after buying an additional 128 shares during the last quarter. GAMMA Investing LLC purchased a new position in Primerica during the 4th quarter valued at approximately $133,000. O Dell Group LLC bought a new stake in Primerica in the 4th quarter worth approximately $153,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of Primerica by 144.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 803 shares of the financial services provider's stock worth $156,000 after acquiring an additional 474 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Stock Performance

PRI stock traded up $0.78 during midday trading on Monday, reaching $228.11. The company's stock had a trading volume of 152,183 shares, compared to its average volume of 163,538. Primerica, Inc. has a 1 year low of $179.15 and a 1 year high of $256.56. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 13.88 and a beta of 1.10. The stock has a fifty day simple moving average of $232.69 and a two-hundred day simple moving average of $225.08.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 EPS for the quarter, missing the consensus estimate of $4.12 by ($0.21). The company had revenue of $742.83 million during the quarter, compared to analysts' expectations of $740.57 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. The company's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.49 EPS. As a group, analysts forecast that Primerica, Inc. will post 17.57 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.32%. Primerica's payout ratio is 18.26%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial increased their price objective on shares of Primerica from $260.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, February 15th. Keefe, Bruyette & Woods raised their price objective on Primerica from $255.00 to $260.00 and gave the company a "market perform" rating in a research note on Wednesday, April 10th. Raymond James downgraded Primerica from a "strong-buy" rating to a "market perform" rating in a research report on Monday, February 12th. Morgan Stanley increased their price target on Primerica from $245.00 to $250.00 and gave the company an "equal weight" rating in a report on Monday, April 15th. Finally, StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a research note on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Primerica currently has a consensus rating of "Hold" and a consensus target price of $245.50.

Insider Buying and Selling

In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction on Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the completion of the sale, the chief operating officer now directly owns 3,379 shares of the company's stock, valued at approximately $829,307.97. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director John A. Jr. Addison sold 1,215 shares of Primerica stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total transaction of $302,535.00. Following the transaction, the director now directly owns 16,467 shares of the company's stock, valued at $4,100,283. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Gregory C. Pitts sold 3,759 shares of the company's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the sale, the chief operating officer now owns 3,379 shares of the company's stock, valued at approximately $829,307.97. The disclosure for this sale can be found here. Insiders have sold a total of 6,708 shares of company stock valued at $1,648,677 over the last quarter. 0.61% of the stock is owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.