JPMorgan Chase & Co. Sells 3,657 Shares of Primerica, Inc. $PRI

JPMorgan Chase & Co. lessened its position in shares of Primerica, Inc. (NYSE:PRI) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,658 shares of the financial services provider’s stock after selling 3,657 shares during the quarter. JPMorgan Chase & Co. owned about 0.42% of Primerica worth $36,827,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Orion Porfolio Solutions LLC raised its holdings in Primerica by 1.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 45 shares during the last quarter. Ascent Group LLC boosted its stake in shares of Primerica by 6.5% in the 3rd quarter. Ascent Group LLC now owns 836 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 51 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of Primerica by 3.2% in the 2nd quarter. Vident Advisory LLC now owns 1,776 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 55 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Primerica by 0.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 22,844 shares of the financial services provider’s stock worth $6,252,000 after buying an additional 60 shares during the period. Finally, NewEdge Wealth LLC grew its position in shares of Primerica by 0.3% during the 3rd quarter. NewEdge Wealth LLC now owns 17,941 shares of the financial services provider’s stock worth $4,580,000 after buying an additional 60 shares during the period. Institutional investors own 90.88% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total transaction of $641,025.00. Following the sale, the chief executive officer owned 27,392 shares of the company’s stock, valued at approximately $7,023,582.72. This trade represents a 8.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total value of $454,284.00. Following the sale, the president directly owned 11,611 shares in the company, valued at $2,930,384.18. The trade was a 13.42% decrease in their position. The SEC filing for this sale provides additional information. 0.61% of the stock is owned by corporate insiders.

Primerica Price Performance

Shares of NYSE:PRI opened at $245.85 on Friday. The firm’s 50 day simple moving average is $258.52 and its 200 day simple moving average is $261.85. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $296.00. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 10.72 and a beta of 0.92.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.69 by $0.44. The firm had revenue of $853.51 million during the quarter, compared to analysts’ expectations of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.03 earnings per share. Equities research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were issued a $1.20 dividend. This is a positive change from Primerica’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. Primerica’s dividend payout ratio (DPR) is presently 20.93%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PRI shares. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Morgan Stanley lowered their target price on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Finally, TD Cowen restated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $298.60.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.