Price T Rowe Associates Inc. MD Sells 5,765 Shares of Primerica, Inc. (NYSE:PRI)

Price T Rowe Associates Inc. MD cut its stake in Primerica, Inc. (NYSE:PRI) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 284,524 shares of the financial services provider’s stock after selling 5,765 shares during the period. Price T Rowe Associates Inc. MD owned 0.83% of Primerica worth $71,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PRI. Van ECK Associates Corp lifted its holdings in Primerica by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 12,506 shares of the financial services provider’s stock worth $3,164,000 after buying an additional 3,345 shares in the last quarter. Blair William & Co. IL boosted its holdings in Primerica by 24.5% in the first quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock valued at $3,076,000 after acquiring an additional 2,393 shares during the last quarter. Trust Point Inc. acquired a new stake in Primerica in the fourth quarter worth about $339,000. Louisiana State Employees Retirement System bought a new stake in Primerica during the 4th quarter worth about $2,016,000. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Primerica by 136.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider’s stock valued at $1,599,000 after purchasing an additional 3,649 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Primerica

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

Primerica Stock Down 0.3 %

Shares of NYSE PRI opened at $249.70 on Tuesday. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $256.56. The company’s fifty day moving average is $234.88 and its 200-day moving average is $234.70. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 15.20 and a beta of 1.09.

Primerica (NYSE:PRI) last posted its earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). The business had revenue of $742.83 million during the quarter, compared to analyst estimates of $740.57 million. Primerica had a net margin of 20.44% and a return on equity of 27.35%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.49 earnings per share. On average, research analysts anticipate that Primerica, Inc. will post 17.73 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.75 per share. The ex-dividend date was Monday, May 20th. This represents a $3.00 annualized dividend and a yield of 1.20%. Primerica’s dividend payout ratio (DPR) is currently 18.26%.

Wall Street Analysts Forecast Growth

PRI has been the subject of several analyst reports. Jefferies Financial Group lifted their price target 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 target price on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Morgan Stanley decreased their price objective on Primerica from $245.00 to $243.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $260.50.

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.