Janney Montgomery Scott LLC Sells 3,417 Shares of Primerica, Inc. $PRI

Janney Montgomery Scott LLC lowered its position in shares of Primerica, Inc. (NYSE:PRI) by 36.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 5,938 shares of the financial services provider’s stock after selling 3,417 shares during the period. Janney Montgomery Scott LLC’s holdings in Primerica were worth $1,487,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Integrated Wealth Concepts LLC raised its position in shares of Primerica by 20.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock valued at $609,000 after purchasing an additional 366 shares during the period. Goldman Sachs Group Inc. increased its stake in Primerica by 27.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock worth $36,894,000 after buying an additional 28,129 shares in the last quarter. Empowered Funds LLC purchased a new stake in Primerica in the 1st quarter worth $1,763,000. Focus Partners Wealth raised its holdings in Primerica by 17.5% during the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 208 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Primerica by 205.8% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 177 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PRI has been the topic of several research analyst reports. Weiss Ratings upgraded Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Jefferies Financial Group boosted their price target on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a report on Friday. Morgan Stanley upped their price target on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Primerica currently has an average rating of “Hold” and an average price target of $294.80.

Primerica Stock Down 0.4%

Shares of PRI stock opened at $304.93 on Friday. The company’s fifty day simple moving average is $279.50 and its two-hundred day simple moving average is $267.25. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $308.55. The stock has a market cap of $9.51 billion, a P/E ratio of 12.79 and a beta of 0.88.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.45 by $0.51. The firm had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.02 earnings per share. On average, analysts anticipate that Primerica, Inc. will post 24.51 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date was Thursday, May 21st. Primerica’s dividend payout ratio (DPR) is currently 20.13%.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $280.49, for a total value of $420,735.00. Following the sale, the chief executive officer owned 33,696 shares of the company’s stock, valued at $9,451,391.04. The trade was a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $279.64, for a total value of $503,352.00. Following the sale, the president directly owned 9,811 shares in the company, valued at $2,743,548.04. This trade represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.63% of the company’s stock.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.