Sei Investments Co. Trims Stock Holdings in Primerica, Inc. $PRI

Sei Investments Co. trimmed its position in Primerica, Inc. (NYSE:PRI) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,201 shares of the financial services provider’s stock after selling 1,867 shares during the quarter. Sei Investments Co.’s holdings in Primerica were worth $16,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vista Investment Partners II LLC bought a new stake in shares of Primerica during the fourth quarter valued at approximately $1,685,000. M&T Bank Corp raised its holdings in Primerica by 1,155.8% in the fourth quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock worth $8,303,000 after purchasing an additional 29,578 shares in the last quarter. Moran Wealth Management LLC raised its holdings in Primerica by 168.6% in the fourth quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock worth $5,302,000 after purchasing an additional 12,881 shares in the last quarter. Arbejdsmarkedets Tillaegspension purchased a new position in Primerica during the fourth quarter valued at $23,767,000. Finally, Jefferies Financial Group Inc. purchased a new position in Primerica during the fourth quarter valued at $2,289,000. Institutional investors own 90.88% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 1,500 shares of the company’s 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 sale, the chief executive officer owned 33,696 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the completion of the transaction, the president directly owned 9,811 shares in the company, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.63% of the company’s stock.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of recent research reports. Jefferies Financial Group upped their target price on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Morgan Stanley lifted their price target on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Weiss Ratings raised shares of Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, July 24th. Finally, TD Cowen lifted their target price on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus price target of $308.67.

Primerica Stock Down 0.0%

Shares of PRI stock opened at $323.40 on Friday. The company has a 50 day moving average price of $289.99 and a 200-day moving average price of $272.44. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $326.67. The firm has a market capitalization of $10.08 billion, a PE ratio of 13.56 and a beta of 0.88.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, beating 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 company had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. During the same quarter in the prior year, the firm earned $5.02 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts anticipate that Primerica, Inc. will post 24.65 earnings per share for the current year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, May 21st. Primerica’s dividend payout ratio is presently 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.