Vestcor Inc lowered its holdings in Primerica, Inc. (NYSE:PRI – Free Report) by 64.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,373 shares of the financial services provider’s stock after selling 2,494 shares during the period. Vestcor Inc’s holdings in Primerica were worth $355,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Primerica by 239.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,090 shares of the financial services provider’s stock worth $5,190,000 after acquiring an additional 14,163 shares in the last quarter. Pinebridge Investments LLC acquired a new stake in shares of Primerica in the fourth quarter worth $478,000. Vise Technologies Inc. increased its position in shares of Primerica by 12.8% in the fourth quarter. Vise Technologies Inc. now owns 5,055 shares of the financial services provider’s stock worth $1,306,000 after acquiring an additional 574 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Primerica in the fourth quarter worth $568,000. Finally, TD Asset Management Inc increased its position in shares of Primerica by 8.4% in the fourth quarter. TD Asset Management Inc now owns 7,219 shares of the financial services provider’s stock worth $1,865,000 after acquiring an additional 557 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.
Insider Buying and Selling
In other Primerica news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president directly owned 9,811 shares in the company, valued at $2,743,548.04. This represents a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by company insiders.
Primerica Trading Up 3.4%
Primerica (NYSE:PRI – Get Free Report) last released its quarterly earnings results 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. The business had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $5.02 EPS. On average, analysts forecast that Primerica, Inc. will post 24.45 earnings per share for the current fiscal year.
Primerica Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 21st will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Thursday, May 21st. Primerica’s dividend payout ratio is 20.13%.
Analysts Set New Price Targets
PRI has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price objective on shares of 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 lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Morgan Stanley raised their price target on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Finally, Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $297.80.
View Our Latest Analysis on Primerica
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.
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