Vanguard Group Inc. Lowers Position in Primerica, Inc. $PRI

Vanguard Group Inc. cut its stake in Primerica, Inc. (NYSE:PRI) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,286,803 shares of the financial services provider’s stock after selling 91,389 shares during the period. Vanguard Group Inc. owned 0.10% of Primerica worth $849,178,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vista Investment Partners II LLC purchased a new position in shares of Primerica in the 4th quarter worth approximately $1,685,000. First Trust Advisors LP boosted its holdings in shares of Primerica by 12.4% in the 3rd quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock worth $136,597,000 after purchasing an additional 54,158 shares during the period. M&T Bank Corp boosted its holdings in shares of Primerica by 1,155.8% in the 4th 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 during the period. Prana Capital Management LP boosted its holdings in shares of Primerica by 22.8% in the 3rd quarter. Prana Capital Management LP now owns 66,916 shares of the financial services provider’s stock worth $18,575,000 after purchasing an additional 12,432 shares during the period. Finally, Moran Wealth Management LLC boosted its holdings in shares of Primerica by 168.6% in the 4th 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 during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “hold” rating and set a $290.00 price target on shares of Primerica in a research note on Thursday, March 26th. Zacks Research downgraded Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. TD Cowen restated a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Finally, Morgan Stanley reduced their price target 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. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $293.60.

Primerica Stock Performance

Primerica stock opened at $276.80 on Friday. The business’s 50-day simple moving average is $260.45 and its two-hundred day simple moving average is $260.13. The company has a market cap of $8.76 billion, a PE ratio of 12.07 and a beta of 0.91. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $288.03.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share for the quarter, beating the consensus estimate of $5.69 by $0.44. The business had revenue of $853.51 million for the quarter, compared to the consensus estimate of $839.65 million. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.03 EPS. As a group, analysts predict that Primerica, Inc. will post 23.84 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were paid a $1.20 dividend. The ex-dividend date was Monday, February 23rd. This is a positive change from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Primerica’s dividend payout ratio (DPR) is currently 20.93%.

Insider Transactions at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the company’s 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 sale, the president owned 11,611 shares in the company, valued at $2,930,384.18. This represents a 13.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Glenn J. Williams sold 2,500 shares of the company’s 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 sale, the chief executive officer owned 27,392 shares in the company, valued at $7,023,582.72. The trade was a 8.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.63% of the stock is owned by corporate insiders.

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.