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

SVB Wealth LLC lowered its position in shares of Primerica, Inc. (NYSE:PRI) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,607 shares of the financial services provider’s stock after selling 1,908 shares during the quarter. SVB Wealth LLC owned approximately 0.14% of Primerica worth $11,499,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Intech Investment Management LLC increased its position in Primerica by 1.4% in the 4th quarter. Intech Investment Management LLC now owns 3,924 shares of the financial services provider’s stock valued at $807,000 after acquiring an additional 55 shares in the last quarter. Blue Trust Inc. increased its position in Primerica by 45.5% in the 2nd 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 in the last quarter. GPS Wealth Strategies Group LLC increased its position in Primerica by 2.4% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 62 shares in the last quarter. Retirement Systems of Alabama increased its position in Primerica by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 43,994 shares of the financial services provider’s stock valued at $11,129,000 after acquiring an additional 116 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in Primerica in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 45,322 shares in the company, valued at $11,446,071.10. The sale was disclosed in a filing with the SEC, which is available through this link. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s 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 transaction, 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 filing with the SEC, which is available through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction 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 completion of the transaction, the president now owns 10,259 shares in the company, valued at $2,678,727.49. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock worth $1,817,595 over the last ninety days. Insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Jefferies Financial Group raised their target price 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 raised their target price 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. Piper Sandler assumed coverage on shares of Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price on the stock. Morgan Stanley raised their target price on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Finally, Truist Financial raised their target price 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. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $275.20.

Primerica Price Performance

PRI traded down $2.96 during trading on Friday, reaching $254.99. The company had a trading volume of 105,401 shares, compared to its average volume of 160,060. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $265.27. The business’s fifty day moving average price is $250.47 and its 200 day moving average price is $239.52. The company has a market cap of $8.63 billion, a P/E ratio of 15.53 and a beta of 1.09.

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

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders 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 an increase from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.41%. Primerica’s dividend payout ratio (DPR) is 21.91%.

Primerica Company 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.