Primerica, Inc. $PRI Shares Sold by Comerica Bank

Comerica Bank decreased its stake in Primerica, Inc. (NYSE:PRI) by 47.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,832 shares of the financial services provider’s stock after selling 14,238 shares during the quarter. Comerica Bank’s holdings in Primerica were worth $4,090,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PRI. Nordea Investment Management AB acquired a new stake in shares of Primerica in the third quarter valued at about $51,004,000. Danske Bank A S acquired a new stake in shares of Primerica in the third quarter valued at about $30,396,000. Alps Advisors Inc. acquired a new stake in shares of Primerica in the third quarter valued at about $20,524,000. AQR Capital Management LLC boosted its position in Primerica by 25.5% during the third quarter. AQR Capital Management LLC now owns 347,531 shares of the financial services provider’s stock worth $96,089,000 after acquiring an additional 70,510 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Primerica by 12.4% during the third quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock worth $136,597,000 after acquiring an additional 54,158 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Trading Down 1.6%

PRI opened at $276.80 on Friday. The firm has a market capitalization of $8.76 billion, a PE ratio of 12.07 and a beta of 0.91. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $288.03. The firm’s 50-day moving average price is $260.45 and its 200 day moving average price is $260.13.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, topping analysts’ consensus estimates of $5.69 by $0.44. The company had revenue of $853.51 million for the quarter, compared to the consensus estimate of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. Primerica’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.03 earnings per share. As a group, analysts predict that Primerica, Inc. will post 23.84 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, February 23rd were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, February 23rd. This is a positive change from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio (DPR) is presently 20.93%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PRI. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Keefe, Bruyette & Woods restated a “hold” rating and set a $290.00 price target on shares of Primerica in a research report on Thursday, March 26th. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Morgan Stanley lowered their price target on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. Finally, TD Cowen restated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $293.60.

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total value of $641,025.00. Following the transaction, the chief executive officer directly owned 27,392 shares in the company, valued at $7,023,582.72. The trade was a 8.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total transaction of $454,284.00. Following the completion of the transaction, the president owned 11,611 shares in the company, valued at $2,930,384.18. The trade was a 13.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.63% of the company’s stock.

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.