SVB Wealth LLC Sells 1,908 Shares of Primerica, Inc. (NYSE:PRI)

SVB Wealth LLC lessened its holdings in Primerica, Inc. (NYSE:PRI) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,607 shares of the financial services provider’s stock after selling 1,908 shares during the quarter. SVB Wealth LLC’s holdings in Primerica were worth $11,499,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PRI. ORG Partners LLC bought a new stake in shares of Primerica in the second quarter valued at about $30,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Primerica by 493.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 148 shares during the period. Blue Trust Inc. boosted its position in shares of Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 60 shares during the period. O Dell Group LLC bought a new stake in shares of Primerica in the fourth quarter valued at about $153,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Primerica in the first quarter valued at about $163,000. Institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PRI. Jefferies Financial Group upped 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 upped their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Morgan Stanley upped their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st. Finally, Truist Financial upped their price objective on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Six investment 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 presently has an average rating of “Hold” and a consensus target price of $275.20.

Insider Activity

In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the transaction, the president now owns 10,259 shares of the company’s stock, valued at $2,678,727.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the sale, the chief executive officer now owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the sale, the president now directly owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock valued at $1,817,595 over the last quarter. 0.85% of the stock is owned by company insiders.

Primerica Trading Down 1.1 %

NYSE PRI traded down $2.96 during trading on Friday, hitting $254.99. 105,401 shares of the company’s stock were exchanged, compared to its average volume of 160,060. The company has a market cap of $8.63 billion, a PE ratio of 15.53 and a beta of 1.09. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $265.27. The stock’s 50 day moving average price is $250.47 and its two-hundred day moving average price is $239.52.

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

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st will be paid a $0.90 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.41%. This is an increase from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio is currently 21.91%.

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.