Treasurer of the State of North Carolina Decreases Holdings in Primerica, Inc. (NYSE:PRI)

Treasurer of the State of North Carolina trimmed its stake in Primerica, Inc. (NYSE:PRI) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,811 shares of the financial services provider’s stock after selling 290 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Primerica were worth $4,020,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new stake in shares of Primerica in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC increased its position in Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after buying an additional 71 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after buying an additional 115 shares during the period. UMB Bank n.a. lifted its position in shares of Primerica by 65.5% during the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after buying an additional 95 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Primerica by 182.2% during the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 164 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Primerica

In other news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $56,030. The trade was a 53.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the transaction, the chief executive officer now owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is owned by corporate insiders.

Primerica Price Performance

NYSE PRI opened at $257.97 on Wednesday. The company’s 50 day simple moving average is $277.85 and its two-hundred day simple moving average is $281.84. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91. The stock has a market capitalization of $8.54 billion, a PE ratio of 18.76 and a beta of 1.03.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, research analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a dividend of $1.04 per share. This is a positive change from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.61%. Primerica’s payout ratio is presently 30.25%.

Wall Street Analysts Forecast Growth

PRI has been the topic of a number of research reports. Morgan Stanley lowered their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods lowered their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. BMO Capital Markets assumed coverage on shares of Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Finally, Piper Sandler dropped their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $309.14.

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.