Bank of New York Mellon Corp Has $80.54 Million Stock Holdings in Primerica, Inc. $PRI

Bank of New York Mellon Corp decreased its position in shares of Primerica, Inc. (NYSE:PRI) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 311,752 shares of the financial services provider’s stock after selling 4,156 shares during the period. Bank of New York Mellon Corp’s holdings in Primerica were worth $80,544,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. AXQ Capital LP acquired a new stake in shares of Primerica during the 4th quarter worth approximately $1,118,000. Norges Bank acquired a new stake in shares of Primerica during the 4th quarter worth approximately $7,825,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Primerica during the 4th quarter worth approximately $172,000. Geode Capital Management LLC boosted its position in shares of Primerica by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock worth $205,011,000 after acquiring an additional 37,014 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its position in shares of Primerica by 100.7% during the 4th quarter. Clearstead Advisors LLC now owns 570 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 286 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insiders Place Their Bets

In related news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the transaction, the president owned 9,811 shares of the company’s stock, valued at $2,743,548.04. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on PRI. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Keefe, Bruyette & Woods raised their target price on shares of Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Morgan Stanley raised their target price on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Finally, Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $297.80.

Primerica Stock Down 1.0%

Shares of NYSE PRI opened at $263.26 on Tuesday. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $288.03. The firm has a fifty day simple moving average of $269.49 and a 200 day simple moving average of $262.18. The company has a market capitalization of $8.21 billion, a PE ratio of 11.04 and a beta of 0.88.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The business had revenue of $872.30 million during the quarter, compared to the consensus estimate of $855.36 million. During the same quarter last year, the firm earned $5.02 earnings per share. Primerica’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts expect that Primerica, Inc. will post 24.45 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, May 21st. Primerica’s dividend payout ratio (DPR) is currently 20.13%.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.