SVB Wealth LLC Reduces Holdings in Primerica, Inc. (NYSE:PRI)

SVB Wealth LLC lowered its position in shares of Primerica, Inc. (NYSE:PRI) by 25.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,544 shares of the financial services provider’s stock after selling 18,942 shares during the period. SVB Wealth LLC owned approximately 0.16% of Primerica worth $11,429,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. PFW Advisors LLC raised its stake in shares of Primerica by 3.8% during the fourth quarter. PFW Advisors LLC now owns 1,521 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 56 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Primerica by 1.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,744 shares of the financial services provider’s stock valued at $726,000 after purchasing an additional 59 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Primerica by 2.7% in the first quarter. Commonwealth Equity Services LLC now owns 2,281 shares of the financial services provider’s stock worth $393,000 after buying an additional 59 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Primerica by 0.6% in the third quarter. Arizona State Retirement System now owns 10,314 shares of the financial services provider’s stock worth $2,001,000 after buying an additional 60 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Primerica by 1.4% in the third quarter. Creative Planning now owns 4,349 shares of the financial services provider’s stock worth $844,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling

In related news, COO Gregory C. Pitts sold 3,759 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the sale, the chief operating officer now owns 3,379 shares of the company’s stock, valued at $829,307.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total value of $302,535.00. Following the completion of the sale, the director now directly owns 16,467 shares of the company’s stock, valued at approximately $4,100,283. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gregory C. Pitts sold 3,759 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the completion of the sale, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at $829,307.97. The disclosure for this sale can be found here. Insiders sold 6,708 shares of company stock valued at $1,648,677 over the last 90 days. 0.61% of the stock is currently owned by company insiders.

Primerica Stock Performance

Shares of PRI traded down $2.14 during midday trading on Tuesday, hitting $210.90. 37,432 shares of the stock traded hands, compared to its average volume of 129,394. The firm has a market capitalization of $7.32 billion, a PE ratio of 13.42 and a beta of 1.06. The business’s 50 day moving average price is $244.98 and its two-hundred day moving average price is $221.64. Primerica, Inc. has a 1-year low of $173.00 and a 1-year high of $256.56.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.27 by ($0.02). The company had revenue of $726.34 million during the quarter, compared to analyst estimates of $723.64 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.49 EPS. As a group, equities research analysts forecast that Primerica, Inc. will post 17.76 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $3.00 annualized dividend and a yield of 1.42%. This is an increase from Primerica’s previous quarterly dividend of $0.65. Primerica’s dividend payout ratio is presently 18.89%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PRI. Morgan Stanley lifted their price target on shares of Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday. Raymond James lowered shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Truist Financial lifted their price target on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Primerica currently has an average rating of “Hold” and an average target price of $245.50.

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.