Primerica, Inc. $PRI Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. reduced its stake in shares of Primerica, Inc. (NYSE:PRI) by 21.2% in the 2nd quarter, Holdings Channel reports. The fund owned 31,429 shares of the financial services provider’s stock after selling 8,436 shares during the period. Logan Capital Management Inc.’s holdings in Primerica were worth $8,601,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Hilltop National Bank acquired a new stake in shares of Primerica during the 2nd quarter worth approximately $31,000. Cullen Frost Bankers Inc. acquired a new stake in Primerica during the second quarter valued at $33,000. AdvisorNet Financial Inc increased its holdings in Primerica by 108.5% in the second quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider’s stock valued at $41,000 after buying an additional 77 shares in the last quarter. Headlands Technologies LLC raised its position in shares of 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 acquiring an additional 161 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of Primerica during the 1st quarter worth about $64,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 36,392 shares in the company, valued at approximately $9,541,982.40. This represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

PRI has been the topic of several research analyst reports. Piper Sandler set a $292.00 price objective on Primerica and gave the company a “neutral” rating in a report on Tuesday, October 7th. BMO Capital Markets upgraded shares of Primerica from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $292.00 to $318.00 in a research report on Tuesday, September 23rd. Morgan Stanley dropped their target price on shares of Primerica from $308.00 to $306.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Weiss Ratings restated a “buy (b)” rating on shares of Primerica in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group lowered their price objective on Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.86.

Primerica Stock Down 0.6%

Shares of PRI opened at $262.89 on Tuesday. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $307.91. The stock has a fifty day simple moving average of $270.52 and a two-hundred day simple moving average of $267.01. The company has a market capitalization of $8.52 billion, a PE ratio of 12.99 and a beta of 0.97.

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

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 22nd were issued a dividend of $1.04 per share. 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 currently 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.