Summit Trail Advisors LLC Sells 823 Shares of Primerica, Inc. (NYSE:PRI)

Summit Trail Advisors LLC reduced its stake in shares of Primerica, Inc. (NYSE:PRI) by 32.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,703 shares of the financial services provider’s stock after selling 823 shares during the quarter. Summit Trail Advisors LLC’s holdings in Primerica were worth $350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Invesco Ltd. grew its holdings in Primerica by 110.6% during the third quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock valued at $87,200,000 after purchasing an additional 236,051 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in shares of Primerica by 86.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock valued at $23,010,000 after buying an additional 55,076 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Primerica by 47.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock worth $25,840,000 after buying an additional 40,647 shares during the period. Alps Advisors Inc. bought a new position in Primerica during the third quarter worth about $6,098,000. Finally, Envestnet Asset Management Inc. grew its stake in Primerica by 48.6% in the third quarter. Envestnet Asset Management Inc. now owns 61,535 shares of the financial services provider’s stock valued at $11,938,000 after acquiring an additional 20,137 shares during the period. 90.88% of the stock is owned by institutional investors.

Primerica Price Performance

Shares of PRI stock opened at $220.17 on Wednesday. The company has a fifty day moving average price of $236.60 and a two-hundred day moving average price of $223.48. Primerica, Inc. has a one year low of $176.81 and a one year high of $256.56. The stock has a market cap of $7.64 billion, a P/E ratio of 13.81 and a beta of 1.10.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 EPS for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). The business had revenue of $742.83 million for the quarter, compared to the consensus estimate of $740.57 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.49 EPS. As a group, equities research analysts anticipate that Primerica, Inc. will post 17.78 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st will be paid a dividend of $0.75 per share. The ex-dividend date is Monday, May 20th. This represents a $3.00 dividend on an annualized basis and a yield of 1.36%. Primerica’s payout ratio is 18.89%.

Insiders Place Their Bets

In related news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total transaction of $58,455.54. Following the sale, the insider now owns 100 shares in the company, valued at approximately $24,981. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $243.41, for a total value of $365,115.00. Following the completion of the transaction, the president now owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the sale, the insider now owns 100 shares in the company, valued at $24,981. The disclosure for this sale can be found here. Insiders have sold 6,708 shares of company stock worth $1,648,677 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday. Raymond James lowered shares of Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th. Keefe, Bruyette & Woods increased their target price on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Truist Financial boosted their price target on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, Morgan Stanley raised their price objective on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Primerica presently has a consensus rating of “Hold” and an average price target of $245.50.

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.