Primerica, Inc. $PRI Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its holdings in shares of Primerica, Inc. (NYSE:PRI) by 16.5% in the first quarter, Holdings Channel reports. The institutional investor owned 13,799 shares of the financial services provider’s stock after selling 2,727 shares during the period. Ritholtz Wealth Management’s holdings in Primerica were worth $3,456,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in Primerica in the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC raised its holdings in Primerica by 68.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 73 shares in the last quarter. Torren Management LLC acquired a new stake in Primerica during the fourth quarter worth approximately $50,000. Steph & Co. lifted its position in shares of Primerica by 38.0% during the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock worth $49,000 after buying an additional 54 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of Primerica by 18.1% during the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock worth $66,000 after buying an additional 39 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Trading Down 0.2%

Shares of NYSE PRI opened at $280.95 on Friday. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $288.03. The stock has a 50 day moving average of $275.63 and a two-hundred day moving average of $264.30. The stock has a market cap of $8.76 billion, a P/E ratio of 11.78 and a beta of 0.88.

Primerica (NYSE:PRI) last posted 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 business 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 company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $5.02 earnings per share. As a group, research analysts predict that Primerica, Inc. will post 24.45 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were paid a dividend of $1.20 per share. The ex-dividend date was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Primerica’s dividend payout ratio is currently 20.13%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PRI. Morgan Stanley increased their target price on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods upped their price objective 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. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus target price of $297.80.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This trade represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction on Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the transaction, the chief executive officer owned 33,696 shares in the company, valued at approximately $9,451,391.04. This represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by corporate insiders.

About Primerica

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.