Bank of America Corp DE Has $9.71 Million Position in Primerica, Inc. (NYSE:PRI)

Bank of America Corp DE reduced its stake in Primerica, Inc. (NYSE:PRI) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,787 shares of the financial services provider’s stock after selling 720 shares during the period. Bank of America Corp DE owned 0.11% of Primerica worth $9,713,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of Primerica in the fourth quarter valued at $33,000. EverSource Wealth Advisors LLC increased its holdings in shares of Primerica by 129.1% in the fourth 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 holdings in shares of Primerica by 116.2% in the fourth 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 holdings in shares of Primerica by 65.5% in the fourth 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 holdings in shares of Primerica by 182.2% in the fourth 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. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Primerica from $274.00 to $296.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Wall Street Zen cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $308.00.

Primerica Stock Down 0.7%

PRI opened at $266.78 on Friday. Primerica, Inc. has a twelve month low of $219.52 and a twelve month high of $307.91. The company has a 50-day simple moving average of $268.07 and a 200 day simple moving average of $279.92. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 19.40 and a beta of 1.02.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share for the quarter, topping the consensus estimate of $4.77 by $0.25. Primerica had a net margin of 15.14% and a return on equity of 31.11%. The business had revenue of $803.56 million during the quarter, compared to analysts’ expectations of $783.54 million. During the same quarter in the prior year, the business posted $3.91 earnings per share. Primerica’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 22nd will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.16 annualized dividend and a yield of 1.56%. Primerica’s dividend payout ratio is 27.98%.

Insider Buying and Selling

In other news, insider Nicholas Adam Jendusa sold 234 shares of the 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 transaction, the insider now owns 200 shares of the company’s stock, valued at approximately $56,030. This represents a 53.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares of the company’s stock, valued at $3,762,852.90. This trade represents a 13.07% decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Primerica 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.