Wealth Alliance Reduces Holdings in Primerica, Inc. (NYSE:PRI)

Wealth Alliance cut its stake in shares of Primerica, Inc. (NYSE:PRI) by 17.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,316 shares of the financial services provider’s stock after selling 282 shares during the quarter. Wealth Alliance’s holdings in Primerica were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PRI. Arlington Trust Co LLC purchased a new stake in Primerica during the 3rd quarter valued at about $25,000. LWM Advisory Services LLC purchased a new stake in Primerica during the 3rd quarter valued at about $26,000. ORG Partners LLC purchased a new stake in Primerica during the 4th quarter valued at about $26,000. Covestor Ltd boosted its holdings in Primerica by 74.7% during the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 109 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in Primerica during the 4th quarter valued at about $38,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Stock Performance

Shares of NYSE:PRI opened at $210.20 on Friday. Primerica, Inc. has a 52-week low of $173.00 and a 52-week high of $256.56. The firm has a market capitalization of $7.29 billion, a P/E ratio of 13.24 and a beta of 1.06. The stock has a 50 day moving average price of $243.69 and a 200-day moving average price of $221.63.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.27 by ($0.02). Primerica had a return on equity of 27.83% and a net margin of 20.37%. The firm had revenue of $726.34 million during the quarter, compared to the consensus estimate of $723.64 million. During the same period in the prior year, the company posted $3.49 EPS. The firm’s revenue was up 5.7% on a year-over-year basis. On average, equities analysts forecast that Primerica, Inc. will post 17.78 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Tuesday, February 20th. This is a positive change from Primerica’s previous quarterly dividend of $0.65. Primerica’s dividend payout ratio (DPR) is 18.89%.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the transaction, the president now owns 13,259 shares of the company’s stock, valued at approximately $3,227,373.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total transaction of $58,455.54. Following the completion of the transaction, the insider now owns 100 shares of the company’s stock, valued at approximately $24,981. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $243.41, for a total value of $365,115.00. Following the sale, the president now owns 13,259 shares in the company, valued at $3,227,373.19. The disclosure for this sale can be found here. Insiders sold a total of 6,708 shares of company stock valued at $1,648,677 in the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Morgan Stanley upped their price target on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research report on Monday. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Keefe, Bruyette & Woods upped their price target on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Finally, Truist Financial upped their price target on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Four 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, Primerica currently has an average rating of “Hold” and a consensus price target of $245.50.

Primerica Company Profile

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.