SVB Wealth LLC Has $1.63 Million Holdings in Primerica, Inc. $PRI

SVB Wealth LLC cut its position in shares of Primerica, Inc. (NYSE:PRI) by 25.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,507 shares of the financial services provider’s stock after selling 2,165 shares during the period. SVB Wealth LLC’s holdings in Primerica were worth $1,630,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank of Montreal Can increased its holdings in Primerica by 5,277.5% in the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after buying an additional 1,287,243 shares during the last quarter. Invesco Ltd. lifted its stake in Primerica by 200.3% in the fourth quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock valued at $92,414,000 after acquiring an additional 238,571 shares during the last quarter. Life Cycle Investment Partners Ltd bought a new stake in Primerica in the fourth quarter worth approximately $40,714,000. Millennium Management LLC grew its position in Primerica by 183.3% in the fourth quarter. Millennium Management LLC now owns 212,196 shares of the financial services provider’s stock worth $54,823,000 after acquiring an additional 137,297 shares in the last quarter. Finally, Danske Bank A S acquired a new position in Primerica during the third quarter worth $30,396,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the transaction, the chief executive officer directly owned 33,696 shares in the company, valued at $9,451,391.04. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the transaction, the president directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. The trade was a 15.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.63% of the company’s stock.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods lifted their target price on Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings raised Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $297.80.

Primerica Stock Up 1.5%

Shares of PRI opened at $284.23 on Wednesday. The company has a 50-day moving average price of $275.07 and a two-hundred day moving average price of $263.90. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 11.92 and a beta of 0.88. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $288.03.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, beating the consensus estimate of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million for the quarter, compared to analyst estimates of $855.36 million. During the same period in the prior year, the company posted $5.02 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts expect that Primerica, Inc. will post 24.45 EPS for the current fiscal year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, May 21st. Primerica’s dividend payout ratio is 20.13%.

About Primerica

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.