Primerica, Inc. (NYSE:PRI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its position in shares of Primerica, Inc. (NYSE:PRIFree Report) by 45.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,370 shares of the financial services provider’s stock after selling 1,955 shares during the quarter. BNP Paribas Financial Markets’ holdings in Primerica were worth $488,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Apollon Wealth Management LLC acquired a new position in shares of Primerica during the 4th quarter worth $743,000. Sapient Capital LLC purchased a new stake in Primerica during the 4th quarter worth about $474,000. Running Oak Capital LLC increased its position in Primerica by 13.2% during the 4th quarter. Running Oak Capital LLC now owns 44,340 shares of the financial services provider’s stock worth $9,123,000 after purchasing an additional 5,169 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Primerica by 47.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock worth $25,840,000 after purchasing an additional 40,647 shares in the last quarter. Finally, New York Life Investment Management LLC increased its position in Primerica by 6.5% during the 4th quarter. New York Life Investment Management LLC now owns 4,092 shares of the financial services provider’s stock worth $842,000 after purchasing an additional 248 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PRI. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Raymond James cut Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th. Morgan Stanley lifted their price target on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Truist Financial lifted their price target on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, Keefe, Bruyette & Woods lifted their price target on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Primerica has an average rating of “Hold” and a consensus price target of $245.50.

Read Our Latest Research Report on Primerica

Primerica Price Performance

PRI opened at $225.89 on Monday. Primerica, Inc. has a 12 month low of $180.65 and a 12 month high of $256.56. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 13.75 and a beta of 1.10. The business has a 50-day moving average of $228.34 and a two-hundred day moving average of $226.68.

Primerica (NYSE:PRIGet Free Report) last issued its earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). Primerica had a return on equity of 27.35% and a net margin of 20.44%. The firm had revenue of $742.83 million for the quarter, compared to analysts’ expectations of $740.57 million. During the same quarter in the previous year, the firm posted $3.49 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that Primerica, Inc. will post 17.66 earnings per share for the current year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Monday, May 20th. Primerica’s payout ratio is currently 18.26%.

Insider Transactions at Primerica

In other news, COO Gregory C. Pitts sold 3,759 shares of the business’s stock in a transaction dated 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 owns 3,379 shares in the company, valued at approximately $829,307.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the transaction, the president now directly owns 13,259 shares of the company’s stock, valued at approximately $3,227,373.19. The transaction was disclosed in a 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 value of $922,571.37. Following the transaction, the chief operating officer now directly owns 3,379 shares in the company, valued at $829,307.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,993 shares of company stock worth $1,687,302. 0.85% of the stock is currently owned by company insiders.

Primerica Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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