Hsbc Holdings PLC Has $1.84 Million Position in Primerica, Inc. $PRI

Hsbc Holdings PLC cut its holdings in Primerica, Inc. (NYSE:PRI) by 52.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,110 shares of the financial services provider’s stock after selling 7,873 shares during the period. Hsbc Holdings PLC’s holdings in Primerica were worth $1,844,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRI. V Square Quantitative Management LLC bought a new stake in Primerica in the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC boosted its holdings in shares of Primerica by 68.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock worth $47,000 after buying an additional 73 shares in the last quarter. Torren Management LLC bought a new position in shares of Primerica during the 4th quarter worth approximately $50,000. Hantz Financial Services Inc. grew its position in shares of Primerica by 18.1% during the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock worth $66,000 after buying an additional 39 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Primerica during the 4th quarter worth approximately $67,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Primerica Trading Down 0.4%

Shares of PRI traded down $1.27 on Friday, reaching $304.93. The company’s stock had a trading volume of 170,354 shares, compared to its average volume of 203,731. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $308.55. The stock has a market capitalization of $9.51 billion, a PE ratio of 12.79 and a beta of 0.88. The firm has a fifty day moving average of $279.50 and a 200-day moving average of $267.25.

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

Primerica Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on PRI shares. Jefferies Financial Group boosted their target price on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday. Morgan Stanley raised their price target on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a research 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 stock. According to data from MarketBeat.com, Primerica has a consensus rating of “Hold” and a consensus price target of $294.80.

Primerica 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.