BNP Paribas Financial Markets Sells 1,166 Shares of Primerica, Inc. (NYSE:PRI)

BNP Paribas Financial Markets decreased its holdings in Primerica, Inc. (NYSE:PRI) by 20.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,584 shares of the financial services provider’s stock after selling 1,166 shares during the period. BNP Paribas Financial Markets’ holdings in Primerica were worth $1,244,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of Primerica in the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC increased its stake in shares of Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 71 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Primerica by 116.2% in the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 115 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 95 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Primerica by 182.2% in the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 164 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Trading Up 0.5%

Shares of PRI opened at $280.39 on Tuesday. The company has a market capitalization of $9.28 billion, a PE ratio of 20.39 and a beta of 1.02. Primerica, Inc. has a 12 month low of $219.52 and a 12 month high of $307.91. The stock’s 50-day moving average price is $269.18 and its two-hundred day moving average price is $280.10.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $5.02 EPS for the quarter, topping the consensus estimate of $4.77 by $0.25. Primerica had a return on equity of 31.11% and a net margin of 15.14%. The firm had revenue of $803.56 million for the quarter, compared to the consensus estimate of $783.54 million. During the same period in the previous year, the business earned $3.91 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Thursday, May 22nd. Primerica’s dividend payout ratio (DPR) is presently 27.98%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PRI shares. Morgan Stanley raised their price objective on Primerica from $274.00 to $296.00 and gave the company an “equal weight” rating in a report on Monday. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective on the stock. Finally, Keefe, Bruyette & Woods cut their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $308.00.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the sale, the president now directly owns 13,301 shares of the company’s stock, valued at $3,762,852.90. The trade was a 13.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the sale, the insider now directly owns 200 shares of the company’s stock, valued at $56,030. The trade was a 53.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

About Primerica

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.