Primerica, Inc. $PRI Holdings Lowered by SVB Wealth LLC

SVB Wealth LLC reduced its stake in Primerica, Inc. (NYSE:PRI) by 25.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,507 shares of the financial services provider’s stock after selling 2,165 shares during the period. SVB Wealth LLC’s holdings in Primerica were worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission.

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

Primerica Stock Up 1.5%

PRI opened at $284.23 on Wednesday. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $288.03. The firm has a market capitalization of $8.86 billion, a P/E ratio of 11.92 and a beta of 0.88. The stock has a fifty day moving average of $275.07 and a 200-day moving average of $263.90.

Primerica (NYSE:PRI) last posted its quarterly earnings results 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 firm had revenue of $872.30 million for the quarter, compared to analyst estimates of $855.36 million. During the same period in the previous year, the firm earned $5.02 earnings per share. Primerica’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts expect that Primerica, Inc. will post 24.45 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 21st. Primerica’s dividend payout ratio is 20.13%.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the company’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 transaction, the chief executive officer owned 33,696 shares in the company, valued at approximately $9,451,391.04. This represents a 4.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the sale, the president owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. The trade was a 15.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on PRI shares. Keefe, Bruyette & Woods upped their price objective on Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Morgan Stanley lifted their target price on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $297.80.

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.