Primerica, Inc. (NYSE:PRI) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its position in shares of Primerica, Inc. (NYSE:PRI) by 3.1% during the 4th quarter, HoldingsChannel reports. The fund owned 27,413 shares of the financial services provider’s stock after selling 889 shares during the quarter. Amalgamated Bank’s holdings in Primerica were worth $5,640,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Trust Point Inc. purchased a new stake in shares of Primerica in the 4th quarter valued at approximately $339,000. Louisiana State Employees Retirement System acquired a new position in shares of Primerica in the 4th quarter valued at $2,016,000. Los Angeles Capital Management LLC raised its holdings in Primerica by 44.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 84,938 shares of the financial services provider’s stock valued at $16,479,000 after buying an additional 25,981 shares during the period. James Investment Research Inc. purchased a new position in Primerica during the third quarter worth about $1,054,000. Finally, Alps Advisors Inc. acquired a new stake in shares of Primerica during the third quarter valued at about $6,098,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

NYSE PRI opened at $222.75 on Tuesday. The company has a fifty day moving average of $237.10 and a two-hundred day moving average of $223.33. Primerica, Inc. has a 1 year low of $176.81 and a 1 year high of $256.56. The company has a market capitalization of $7.73 billion, a PE ratio of 14.03 and a beta of 1.10.

Primerica (NYSE:PRI) last released its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). Primerica had a return on equity of 27.83% and a net margin of 20.37%. The firm had revenue of $742.83 million for the quarter, compared to analysts’ expectations of $740.57 million. During the same quarter in the prior year, the business earned $3.49 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts expect that Primerica, Inc. will post 17.78 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Wednesday, February 21st were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Tuesday, February 20th. This is a positive change from Primerica’s previous quarterly dividend of $0.65. Primerica’s payout ratio is currently 18.89%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PRI shares. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Morgan Stanley raised their price objective on shares of Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Truist Financial upped their target price 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, Raymond James downgraded shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $245.50.

Insiders Place Their Bets

In related news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the sale, the insider now directly owns 100 shares in the company, valued at $24,981. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total transaction of $58,455.54. Following the sale, the insider now directly owns 100 shares in the company, valued at approximately $24,981. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Jr. Addison sold 1,215 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total transaction of $302,535.00. Following the completion of the transaction, the director now owns 16,467 shares of the company’s stock, valued at approximately $4,100,283. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,708 shares of company stock worth $1,648,677. Company insiders own 0.61% of the company’s stock.

About Primerica

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.