SVB Wealth LLC Sells 1,963 Shares of Primerica, Inc. $PRI

SVB Wealth LLC cut its holdings in shares of Primerica, Inc. (NYSE:PRI) by 18.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,672 shares of the financial services provider’s stock after selling 1,963 shares during the period. SVB Wealth LLC’s holdings in Primerica were worth $2,241,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PRI. Integrated Wealth Concepts LLC raised its holdings in Primerica by 20.6% during the first quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 366 shares during the period. Goldman Sachs Group Inc. raised its holdings in Primerica by 27.7% during the first quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock valued at $36,894,000 after acquiring an additional 28,129 shares during the period. Empowered Funds LLC bought a new stake in Primerica during the first quarter valued at about $1,763,000. Focus Partners Wealth raised its holdings in Primerica by 17.5% during the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 208 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Primerica by 205.8% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 177 shares during the period. 90.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PRI has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Primerica in a report on Wednesday, May 6th. Morgan Stanley cut their price objective on Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Keefe, Bruyette & Woods restated a “hold” rating and set a $290.00 price objective on shares of Primerica in a research report on Thursday, March 26th. Finally, TD Cowen restated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $293.60.

Insider Activity

In related news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total value of $454,284.00. Following the completion of the transaction, the president owned 11,611 shares in the company, valued at approximately $2,930,384.18. This trade represents a 13.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total value of $641,025.00. Following the completion of the transaction, the chief executive officer owned 27,392 shares of the company’s stock, valued at approximately $7,023,582.72. This represents a 8.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.63% of the company’s stock.

Primerica Stock Down 0.9%

PRI stock opened at $272.10 on Tuesday. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $288.03. The company has a fifty day simple moving average of $262.30 and a two-hundred day simple moving average of $260.42. The firm has a market capitalization of $8.61 billion, a P/E ratio of 11.41 and a beta of 0.91.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. During the same period in the previous year, the firm posted $5.02 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, analysts anticipate that Primerica, Inc. will post 23.84 EPS for the current year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be given a $1.20 dividend. The ex-dividend date is Thursday, May 21st. This represents a $4.80 annualized dividend and a yield of 1.8%. Primerica’s dividend payout ratio (DPR) is currently 20.13%.

Primerica Company 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.