Vestcor Inc Has $1.39 Million Stake in Primerica, Inc. (NYSE:PRI)

Vestcor Inc reduced its holdings in Primerica, Inc. (NYSE:PRI) by 18.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,109 shares of the financial services provider’s stock after selling 1,172 shares during the quarter. Vestcor Inc’s holdings in Primerica were worth $1,387,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Prospera Private Wealth LLC acquired a new position in Primerica in the third quarter worth $31,000. Golden State Wealth Management LLC bought a new position in shares of Primerica in the fourth quarter valued at about $33,000. EverSource Wealth Advisors LLC lifted its position in Primerica by 129.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after buying an additional 71 shares in the last quarter. Larson Financial Group LLC grew its holdings in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in Primerica by 116.2% in the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 115 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler reduced their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Morgan Stanley cut their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods lifted their price objective on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus target price of $309.86.

Primerica Stock Up 3.3 %

Shares of Primerica stock opened at $285.76 on Friday. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The business has a fifty day simple moving average of $284.60 and a 200 day simple moving average of $279.68. The stock has a market cap of $9.50 billion, a PE ratio of 20.78 and a beta of 1.12.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now directly owns 13,301 shares of the company’s stock, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock valued at $1,476,575 over the last 90 days. 0.85% of the stock is currently owned by insiders.

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.