Vestcor Inc Sells 1,172 Shares of Primerica, Inc. (NYSE:PRI)

Vestcor Inc trimmed its position in Primerica, Inc. (NYSE:PRI) by 18.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,109 shares of the financial services provider’s stock after selling 1,172 shares during the period. Vestcor Inc’s holdings in Primerica were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in shares of Primerica in the third quarter valued at about $31,000. Golden State Wealth Management LLC acquired a new position in shares of Primerica during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 71 shares during the period. Larson Financial Group LLC raised its position in shares of Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after buying an additional 54 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after buying an additional 115 shares during the period. Institutional investors own 90.88% of the company’s stock.

Primerica Trading Up 3.3 %

Shares of Primerica stock opened at $285.76 on Friday. The firm’s 50 day moving average is $284.60 and its 200 day moving average is $279.68. The firm has a market capitalization of $9.50 billion, a PE ratio of 20.78 and a beta of 1.12. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share 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 given a $1.04 dividend. The ex-dividend date was Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.46%. Primerica’s dividend payout ratio (DPR) is currently 30.25%.

Analyst Ratings Changes

A number of research firms have commented on PRI. TD Cowen raised their price objective on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. 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. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Primerica has an average rating of “Hold” and an average target price of $309.86.

Insider Activity

In other news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value 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. This represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is currently owned by corporate insiders.

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.