Marks Group Wealth Management Inc Reduces Holdings in Primerica, Inc. $PRI

Marks Group Wealth Management Inc trimmed its position in shares of Primerica, Inc. (NYSE:PRI) by 10.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,899 shares of the financial services provider’s stock after selling 3,286 shares during the quarter. Marks Group Wealth Management Inc owned 0.09% of Primerica worth $7,466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of PRI. Integrated Wealth Concepts LLC boosted its stake in Primerica by 20.6% during the first quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock worth $609,000 after buying an additional 366 shares during the period. Goldman Sachs Group Inc. boosted its stake in Primerica by 27.7% during the first quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock worth $36,894,000 after buying an additional 28,129 shares during the period. Empowered Funds LLC purchased a new position in Primerica during the first quarter worth $1,763,000. Focus Partners Wealth lifted its position in shares of Primerica by 17.5% during the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 208 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Primerica by 205.8% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 177 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Trading Down 1.0%

Shares of PRI opened at $263.26 on Tuesday. The firm has a market capitalization of $8.21 billion, a P/E ratio of 11.04 and a beta of 0.88. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $288.03. The firm has a fifty day moving average price of $269.49 and a 200-day moving average price of $262.18.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, beating the consensus estimate of $5.45 by $0.51. The firm had revenue of $872.30 million during the quarter, compared to the consensus estimate of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $5.02 earnings per share. Analysts predict that Primerica, Inc. will post 24.45 earnings per share for the current year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, May 21st. Primerica’s payout ratio is presently 20.13%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PRI. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Morgan Stanley boosted their target price on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Finally, Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Primerica currently has a consensus rating of “Hold” and a consensus target price of $297.80.

Insider Buying and Selling at Primerica

In related news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $279.64, for a total value of $503,352.00. Following the completion of the sale, the president directly owned 9,811 shares in the company, valued at $2,743,548.04. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by insiders.

Primerica Profile

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.