Primerica, Inc. (NYSE:PRI) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. cut its holdings in Primerica, Inc. (NYSE:PRI) by 37.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,357 shares of the financial services provider’s stock after selling 1,387 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Primerica were worth $485,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arlington Trust Co LLC acquired a new position in Primerica during the 3rd quarter valued at about $25,000. LWM Advisory Services LLC acquired a new position in Primerica during the 3rd quarter valued at about $26,000. Sound Income Strategies LLC boosted its stake in Primerica by 121.9% during the 4th quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 128 shares during the period. Covestor Ltd boosted its stake in Primerica by 74.7% during the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 109 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Primerica during the 4th quarter valued at about $38,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Price Performance

NYSE PRI opened at $215.04 on Friday. The company’s 50 day simple moving average is $243.14 and its 200 day simple moving average is $221.80. Primerica, Inc. has a 12 month low of $173.00 and a 12 month high of $256.56. The company has a market capitalization of $7.46 billion, a P/E ratio of 13.54 and a beta of 1.06.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, February 13th. The financial services provider reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.27 by ($0.02). Primerica had a return on equity of 27.83% and a net margin of 20.37%. The business had revenue of $726.34 million during the quarter, compared to the consensus estimate of $723.64 million. During the same quarter in the previous year, the firm earned $3.49 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts anticipate that Primerica, Inc. will post 17.78 earnings per share for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This is an increase from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 dividend on an annualized basis and a yield of 1.40%. Primerica’s payout ratio is presently 18.89%.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Morgan Stanley boosted their price target on shares of Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Raymond James downgraded shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Primerica currently has a consensus rating of “Hold” and an average price target of $245.50.

Insider Activity at Primerica

In related news, COO Gregory C. Pitts sold 3,759 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the transaction, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at $829,307.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the sale, the insider now directly owns 100 shares of the company’s stock, valued at $24,981. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gregory C. Pitts sold 3,759 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the completion of the sale, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at $829,307.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,708 shares of company stock valued at $1,648,677. Corporate insiders own 0.85% of the company’s stock.

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.