Primerica, Inc. (NYSE:PRI) Position Lessened by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its stake in Primerica, Inc. (NYSE:PRI) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,171 shares of the financial services provider’s stock after selling 8,493 shares during the period. Nuveen Asset Management LLC owned 0.60% of Primerica worth $54,330,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Mariner LLC raised its stake in Primerica by 1.4% during the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider’s stock valued at $709,000 after acquiring an additional 36 shares in the last quarter. Dana Investment Advisors Inc. raised its stake in Primerica by 1.2% during the 4th quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock valued at $1,012,000 after acquiring an additional 45 shares in the last quarter. CIBC Asset Management Inc raised its stake in Primerica by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider’s stock valued at $301,000 after acquiring an additional 54 shares in the last quarter. Assetmark Inc. raised its stake in Primerica by 3.9% during the 4th quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 57 shares in the last quarter. Finally, Everhart Financial Group Inc. raised its stake in Primerica by 2.5% during the 4th quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider’s stock valued at $726,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling

In related news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now directly owns 13,301 shares in the company, valued at $3,762,852.90. The trade was a 13.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at $56,030. The trade was a 53.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock worth $1,476,575 in the last three months. 0.61% of the stock is currently owned by insiders.

Primerica Stock Performance

PRI opened at $279.02 on Monday. Primerica, Inc. has a one year low of $219.52 and a one year high of $307.91. The stock’s fifty day moving average is $269.12 and its 200-day moving average is $280.06. The company has a market capitalization of $9.23 billion, a PE ratio of 20.29 and a beta of 1.02.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 EPS for the quarter, topping analysts’ consensus estimates of $4.77 by $0.25. Primerica had a return on equity of 31.11% and a net margin of 15.14%. The company had revenue of $803.56 million for the quarter, compared to the consensus estimate of $783.54 million. During the same quarter in the previous year, the business earned $3.91 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 22nd will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, May 22nd. Primerica’s payout ratio is 27.98%.

Wall Street Analysts Forecast Growth

PRI has been the topic of several recent analyst reports. Morgan Stanley cut their target price 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. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods cut their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 9th. Finally, BMO Capital Markets began coverage on Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Primerica has a consensus rating of “Hold” and an average price target of $309.14.

Primerica 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.