SVB Wealth LLC Cuts Holdings in Primerica, Inc. $PRI

SVB Wealth LLC trimmed its holdings in shares of Primerica, Inc. (NYSE:PRI) by 18.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,672 shares of the financial services provider’s stock after selling 1,963 shares during the period. SVB Wealth LLC’s holdings in Primerica were worth $2,241,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PRI. Nordea Investment Management AB purchased a new stake in Primerica during the 3rd quarter valued at $51,004,000. Danske Bank A S purchased a new stake in Primerica during the 3rd quarter valued at $30,396,000. Alps Advisors Inc. bought a new position in shares of Primerica during the 3rd quarter valued at $20,524,000. AQR Capital Management LLC lifted its holdings in shares of Primerica by 25.5% during the 3rd quarter. AQR Capital Management LLC now owns 347,531 shares of the financial services provider’s stock valued at $96,089,000 after buying an additional 70,510 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Primerica by 12.4% during the 3rd quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock valued at $136,597,000 after buying an additional 54,158 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Stock Performance

Shares of Primerica stock opened at $272.10 on Tuesday. Primerica, Inc. has a one year low of $230.09 and a one year high of $288.03. The stock’s fifty day moving average is $262.30 and its 200 day moving average is $260.42. The stock has a market cap of $8.61 billion, a P/E ratio of 11.41 and a beta of 0.91.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. During the same period last year, the firm earned $5.02 EPS. Primerica’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts predict that Primerica, Inc. will post 23.84 EPS for the current year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, May 21st. Primerica’s dividend payout ratio (DPR) is currently 20.13%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was 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 of the company’s stock, valued at approximately $7,023,582.72. This trade represents a 8.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total value of $454,284.00. Following the completion of the transaction, the president directly owned 11,611 shares in the company, valued at approximately $2,930,384.18. This represents a 13.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.63% of the stock is currently owned by company insiders.

About Primerica

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.