TD Asset Management Inc Sells 2,818 Shares of Primerica, Inc. $PRI

TD Asset Management Inc trimmed its holdings in Primerica, Inc. (NYSE:PRI) by 31.6% in the 2nd quarter, Holdings Channel reports. The fund owned 6,103 shares of the financial services provider’s stock after selling 2,818 shares during the quarter. TD Asset Management Inc’s holdings in Primerica were worth $1,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Hilltop National Bank bought a new position in Primerica in the second quarter worth $31,000. AdvisorNet Financial Inc lifted its position in Primerica by 108.5% in the second quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 77 shares during the period. Headlands Technologies LLC lifted its position in Primerica by 2,300.0% in the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 161 shares during the period. Summit Securities Group LLC bought a new position in Primerica in the first quarter worth $64,000. Finally, Golden State Wealth Management LLC lifted its position in Primerica by 105.7% in the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 130 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the completion of the sale, the chief executive officer directly owned 36,392 shares in the company, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on PRI shares. Piper Sandler set a $292.00 target price on Primerica and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods raised their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Monday, August 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Primerica in a research report on Wednesday, October 8th. Morgan Stanley reduced their target price on Primerica from $308.00 to $306.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Finally, Jefferies Financial Group reduced their target price on Primerica from $293.00 to $283.00 and set a “hold” rating for the company in a research report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.86.

Primerica Price Performance

Primerica stock opened at $265.36 on Thursday. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $307.91. The firm has a market capitalization of $8.59 billion, a P/E ratio of 13.11 and a beta of 0.97. The stock has a fifty day moving average price of $270.40 and a two-hundred day moving average price of $266.54.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.28. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The company had revenue of $796.02 million during the quarter, compared to analyst estimates of $790.99 million. During the same period last year, the company posted $4.71 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 22nd were paid a $1.04 dividend. The ex-dividend date was Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. Primerica’s dividend payout ratio (DPR) is 20.55%.

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.