First Citizens Bank & Trust Co. Purchases 505 Shares of Primerica, Inc. (NYSE:PRI)

First Citizens Bank & Trust Co. grew its stake in shares of Primerica, Inc. (NYSE:PRI) by 9.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,736 shares of the financial services provider’s stock after buying an additional 505 shares during the period. First Citizens Bank & Trust Co.’s holdings in Primerica were worth $1,357,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in PRI. Intech Investment Management LLC raised its position in Primerica by 1.4% in the fourth quarter. Intech Investment Management LLC now owns 3,924 shares of the financial services provider’s stock worth $807,000 after purchasing an additional 55 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Primerica by 45.5% during the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after buying an additional 60 shares in the last quarter. GPS Wealth Strategies Group LLC increased its holdings in shares of Primerica by 2.4% during the second quarter. GPS Wealth Strategies Group LLC now owns 2,644 shares of the financial services provider’s stock worth $625,000 after buying an additional 62 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Primerica by 0.3% during the first quarter. Retirement Systems of Alabama now owns 43,994 shares of the financial services provider’s stock worth $11,129,000 after buying an additional 116 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of Primerica during the second quarter worth approximately $30,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the sale, the chief executive officer now directly owns 45,322 shares in the company, valued at $11,446,071.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the sale, the chief executive officer now directly owns 45,322 shares in the company, valued at $11,446,071.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $227.44, for a total transaction of $341,160.00. Following the sale, the president now owns 11,759 shares in the company, valued at $2,674,466.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,500 shares of company stock worth $1,767,090. Company insiders own 0.85% of the company’s stock.

Primerica Stock Down 0.7 %

PRI stock traded down $1.73 during midday trading on Tuesday, reaching $259.21. The company’s stock had a trading volume of 15,313 shares, compared to its average volume of 162,445. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $261.48. The stock has a market cap of $8.92 billion, a PE ratio of 15.88 and a beta of 1.09. The business’s 50-day simple moving average is $242.46 and its 200-day simple moving average is $237.38.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The firm had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the firm earned $3.99 earnings per share. As a group, equities analysts forecast that Primerica, Inc. will post 17.92 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st will be issued a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a yield of 1.39%. Primerica’s dividend payout ratio (DPR) is 21.91%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Truist Financial increased their price target on shares of Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Morgan Stanley increased their price target on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday. Jefferies Financial Group increased their price target on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods increased their price target 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. Finally, StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Primerica currently has an average rating of “Hold” and a consensus price target of $273.25.

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.