Farther Finance Advisors LLC Cuts Stock Position in Primerica, Inc. $PRI

Farther Finance Advisors LLC decreased its position in shares of Primerica, Inc. (NYSE:PRI) by 20.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,532 shares of the financial services provider’s stock after selling 382 shares during the period. Farther Finance Advisors LLC’s holdings in Primerica were worth $419,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC lifted its holdings in shares of Primerica by 2,300.0% in the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 161 shares during the last quarter. Summit Securities Group LLC bought a new stake in Primerica in the first quarter worth about $64,000. Golden State Wealth Management LLC lifted its stake in Primerica by 105.7% in the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 130 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Primerica by 205.8% in the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 177 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Primerica by 26.9% during the first quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the completion of the transaction, the chief executive officer owned 36,392 shares of the company’s stock, valued at $9,541,982.40. This trade represents a 6.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on PRI shares. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Monday, August 11th. BMO Capital Markets raised Primerica from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $292.00 to $318.00 in a research report on Tuesday, September 23rd. Jefferies Financial Group reduced their price target on Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a research report on Monday, August 11th. Finally, Morgan Stanley raised their target price on Primerica from $292.00 to $308.00 and gave the stock an “equal weight” rating in a research note on Monday, August 18th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $316.29.

Primerica Trading Up 1.2%

PRI stock opened at $277.33 on Monday. The company has a market cap of $8.98 billion, a price-to-earnings ratio of 13.70 and a beta of 1.00. Primerica, Inc. has a 12 month low of $230.98 and a 12 month high of $307.91. The firm has a 50-day moving average of $267.93 and a two-hundred day moving average of $268.13.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.28. The company had revenue of $796.02 million during the quarter, compared to the consensus estimate of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. Primerica’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.71 EPS. As a group, equities analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 22nd were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.5%. Primerica’s dividend payout ratio (DPR) is presently 20.55%.

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.