Cynosure Group LLC Buys New Stake in Primerica, Inc. (NYSE:PRI)

Cynosure Group LLC bought a new stake in Primerica, Inc. (NYSE:PRI) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,243 shares of the financial services provider’s stock, valued at approximately $314,000.

Several other institutional investors have also recently added to or reduced their stakes in PRI. ORG Partners LLC purchased a new position in Primerica in the 4th quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. boosted its position in Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after buying an additional 148 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Primerica during the 4th quarter worth $133,000. O Dell Group LLC purchased a new stake in shares of Primerica during the 4th quarter worth $153,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Primerica during the 1st quarter worth $163,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analysts Set New Price Targets

PRI has been the subject of several recent analyst reports. Jefferies Financial Group lifted their price objective on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Morgan Stanley cut their price target on shares of Primerica from $245.00 to $243.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Primerica currently has an average rating of “Hold” and a consensus price target of $260.50.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the sale, the president now directly owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the transaction, the president now owns 11,759 shares in the company, valued at $2,674,466.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $222.76, for a total value of $668,280.00. Following the completion of the transaction, the chief executive officer now directly owns 48,322 shares in the company, valued at $10,764,208.72. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

Primerica Stock Up 0.7 %

Shares of Primerica stock traded up $1.71 during trading on Tuesday, hitting $251.63. 23,346 shares of the company were exchanged, compared to its average volume of 167,950. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $256.56. The firm has a 50 day moving average price of $232.50 and a 200 day moving average price of $233.34. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 15.28 and a beta of 1.09.

Primerica (NYSE:PRI) last posted its quarterly earnings data 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). Primerica had a net margin of 20.44% and a return on equity of 27.35%. The company had revenue of $742.83 million for the quarter, compared to analyst estimates of $740.57 million. During the same period in the previous year, the business earned $3.49 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. Analysts predict that Primerica, Inc. will post 17.73 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were issued a $0.75 dividend. The ex-dividend date was Monday, May 20th. This represents a $3.00 annualized dividend and a yield of 1.19%. Primerica’s dividend payout ratio (DPR) is presently 18.26%.

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.