Primerica, Inc. $PRI Position Lowered by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc trimmed its position in Primerica, Inc. (NYSE:PRI) by 10.4% in the first quarter, Holdings Channel reports. The firm owned 25,903 shares of the financial services provider’s stock after selling 2,996 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Primerica were worth $6,488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRI. SJS Investment Consulting Inc. lifted its holdings in Primerica by 176.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after buying an additional 74 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Primerica in the 4th quarter valued at approximately $30,000. Root Financial Partners LLC increased its holdings in shares of Primerica by 52.6% in the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 61 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Primerica by 68.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 73 shares in the last quarter. Finally, Steph & Co. raised 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 valued at $49,000 after acquiring an additional 54 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 1,800 shares of the business’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 completion of the transaction, the president owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $280.49, for a total transaction of $420,735.00. Following the transaction, the chief executive officer owned 33,696 shares of the company’s stock, valued at $9,451,391.04. This represents a 4.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a report on Monday. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Jefferies Financial Group raised their price target on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Finally, Morgan Stanley raised their price target on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Primerica has an average rating of “Hold” and a consensus target price of $298.40.

Primerica Trading Down 0.4%

NYSE:PRI opened at $305.56 on Thursday. The stock has a 50 day moving average of $281.24 and a 200-day moving average of $268.26. The firm has a market capitalization of $9.53 billion, a PE ratio of 12.81 and a beta of 0.88. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $312.16.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. During the same quarter last year, the business posted $5.02 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, analysts predict that Primerica, Inc. will post 24.54 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Thursday, May 21st. Primerica’s dividend payout ratio (DPR) is presently 20.13%.

Primerica Company 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.