Natixis Advisors LLC Trims Holdings in Primerica, Inc. (NYSE:PRI)

Natixis Advisors LLC cut its stake in Primerica, Inc. (NYSE:PRI) by 2.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 110,022 shares of the financial services provider’s stock after selling 2,405 shares during the quarter. Natixis Advisors LLC’s holdings in Primerica were worth $29,862,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in Primerica during the third quarter worth about $31,000. Golden State Wealth Management LLC purchased a new position in Primerica during the fourth quarter worth about $33,000. EverSource Wealth Advisors LLC grew its position in Primerica by 129.1% during the fourth 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 position in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after buying an additional 54 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after buying an additional 115 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PRI. TD Cowen boosted their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. BMO Capital Markets started coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Piper Sandler dropped their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Morgan Stanley dropped their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $309.86.

Primerica Stock Up 1.9 %

Shares of PRI opened at $290.84 on Tuesday. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The stock has a market cap of $9.67 billion, a P/E ratio of 21.15 and a beta of 1.12. The business’s 50 day moving average price is $284.91 and its 200-day moving average price is $280.02.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, equities analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a $1.04 dividend. The ex-dividend date was Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.43%. Primerica’s payout ratio is 30.25%.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction 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 $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the transaction, the insider now directly owns 200 shares in the company, valued at approximately $56,030. The trade was a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,234 shares of company stock valued at $1,476,575. Insiders own 0.85% of the company’s stock.

About Primerica

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.