Primerica, Inc. $PRI Holdings Reduced by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lowered its position in Primerica, Inc. (NYSE:PRI) by 63.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 7,393 shares of the financial services provider’s stock after selling 12,697 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Primerica were worth $1,852,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PRI. Bank of Montreal Can boosted its position in shares of Primerica by 5,277.5% during the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after buying an additional 1,287,243 shares during the period. Geode Capital Management LLC increased its position in Primerica by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock valued at $205,011,000 after acquiring an additional 37,014 shares during the period. Dimensional Fund Advisors LP raised its stake in Primerica by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 642,950 shares of the financial services provider’s stock valued at $166,119,000 after acquiring an additional 29,621 shares in the last quarter. First Trust Advisors LP raised its stake in Primerica by 2.7% during the 4th quarter. First Trust Advisors LP now owns 505,357 shares of the financial services provider’s stock valued at $130,564,000 after acquiring an additional 13,274 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Primerica by 200.3% during the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after acquiring an additional 238,571 shares during the period. Institutional investors own 90.88% of the company’s stock.

Insider Activity

In other news, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the transaction, the chief executive officer directly owned 33,696 shares of the company’s stock, valued at $9,451,391.04. This trade represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction that occurred 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 sale, the president owned 9,811 shares in the company, valued at $2,743,548.04. This represents a 15.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by insiders.

Primerica Stock Up 1.5%

PRI opened at $284.23 on Wednesday. The firm has a market cap of $8.86 billion, a PE ratio of 11.92 and a beta of 0.88. The business has a fifty day simple moving average of $275.07 and a 200-day simple moving average of $263.90. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $288.03.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million for the quarter, compared to analyst estimates of $855.36 million. During the same period in the previous year, the firm earned $5.02 earnings per share. Primerica’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Primerica, Inc. will post 24.45 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date was Thursday, May 21st. Primerica’s payout ratio is presently 20.13%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PRI. Keefe, Bruyette & Woods increased their price target on Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Morgan Stanley upped their price objective on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a 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 stock. According to data from MarketBeat.com, Primerica currently has an average rating of “Hold” and an average price target of $297.80.

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.