Commerce Bank Sells 965 Shares of Primerica, Inc. (NYSE:PRI)

Commerce Bank lessened its holdings in shares of Primerica, Inc. (NYSE:PRI) by 8.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,221 shares of the financial services provider’s stock after selling 965 shares during the period. Commerce Bank’s holdings in Primerica were worth $2,908,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mariner LLC raised its position in Primerica by 1.4% in the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider’s stock valued at $709,000 after buying an additional 36 shares during the last quarter. HB Wealth Management LLC raised its position in Primerica by 1.9% in the 1st quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider’s stock valued at $594,000 after buying an additional 38 shares during the last quarter. Applied Finance Capital Management LLC raised its position in Primerica by 5.3% in the 1st quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider’s stock valued at $239,000 after buying an additional 42 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Primerica by 1.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider’s stock valued at $881,000 after buying an additional 44 shares during the last quarter. Finally, Xponance Inc. raised its position in Primerica by 1.2% in the 1st quarter. Xponance Inc. now owns 3,945 shares of the financial services provider’s stock valued at $1,122,000 after buying an additional 47 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Down 2.3%

Shares of Primerica stock opened at $259.45 on Monday. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The stock has a market cap of $8.59 billion, a P/E ratio of 17.45 and a beta of 0.99. The business’s 50 day moving average is $266.50 and its 200-day moving average is $272.94.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.77 by $0.25. Primerica had a return on equity of 32.30% and a net margin of 15.82%. The company had revenue of $803.56 million for the quarter, compared to analysts’ expectations of $783.54 million. During the same quarter in the prior year, the business posted $3.91 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. Primerica’s payout ratio is presently 27.98%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods dropped their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley lifted their target price on Primerica from $274.00 to $296.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $317.83.

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.