Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 87 Shares of Primerica, Inc. (NYSE:PRI)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in shares of Primerica, Inc. (NYSE:PRI) by 1.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,370 shares of the financial services provider’s stock after selling 87 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Primerica were worth $2,000,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in Primerica during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC lifted its position in shares of Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 71 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the last quarter. Venturi Wealth Management LLC grew its position in Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 115 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Primerica by 65.5% during the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock worth $65,000 after buying an additional 95 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Up 2.6 %

NYSE PRI opened at $292.05 on Tuesday. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The firm has a 50-day moving average price of $286.20 and a two-hundred day moving average price of $280.98. The company has a market capitalization of $9.71 billion, a P/E ratio of 21.24 and a beta of 1.12.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Equities analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is 30.25%.

Insider Buying and Selling

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the transaction, the insider now directly owns 200 shares in the company, valued at $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock valued at $1,476,575 over the last quarter. 0.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PRI. TD Cowen raised their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley decreased their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Piper Sandler dropped their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Finally, BMO Capital Markets began coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $309.86.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.