Primerica, Inc. (NYSE:PRI) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. cut its holdings in Primerica, Inc. (NYSE:PRI) by 37.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,357 shares of the financial services provider’s stock after selling 1,387 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Primerica were worth $485,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PRI. Arlington Trust Co LLC acquired a new position in Primerica in the third quarter valued at $25,000. LWM Advisory Services LLC acquired a new position in Primerica in the third quarter valued at $26,000. Covestor Ltd increased its stake in Primerica by 74.7% in the first quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 109 shares during the period. Lazard Asset Management LLC acquired a new position in Primerica in the fourth quarter valued at $38,000. Finally, Sound Income Strategies LLC increased its stake in Primerica by 121.9% in the fourth quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 128 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Price Performance

Shares of NYSE PRI opened at $215.04 on Friday. Primerica, Inc. has a 12-month low of $173.00 and a 12-month high of $256.56. The company has a market capitalization of $7.46 billion, a PE ratio of 13.54 and a beta of 1.06. The firm’s 50-day moving average is $243.14 and its two-hundred day moving average is $221.80.

Primerica (NYSE:PRI) last announced its quarterly 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 net margin of 20.37% and a return on equity of 27.83%. The business had revenue of $726.34 million during the quarter, compared to analysts’ expectations of $723.64 million. During the same period last year, the company earned $3.49 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts forecast that Primerica, Inc. will post 17.78 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Wednesday, February 21st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Tuesday, February 20th. This is an increase from Primerica’s previous quarterly dividend of $0.65. Primerica’s dividend payout ratio is 18.89%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PRI shares. Raymond James lowered shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Truist Financial boosted their price target on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Morgan Stanley boosted their price target on shares of Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $245.50.

Insider Buying and Selling at Primerica

In related news, COO Gregory C. Pitts sold 3,759 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the transaction, the chief operating officer now owns 3,379 shares of the company’s stock, valued at $829,307.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Gregory C. Pitts sold 3,759 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the transaction, the chief operating officer now owns 3,379 shares of the company’s stock, valued at $829,307.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John A. Jr. Addison sold 1,215 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total transaction of $302,535.00. Following the transaction, the director now directly owns 16,467 shares in the company, valued at approximately $4,100,283. The disclosure for this sale can be found here. Insiders have sold 6,708 shares of company stock valued at $1,648,677 over the last quarter. Corporate insiders own 0.85% of the company’s stock.

Primerica 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.