Summit Trail Advisors LLC Reduces Position in Primerica, Inc. (NYSE:PRI)

Summit Trail Advisors LLC cut its holdings in Primerica, Inc. (NYSE:PRI) by 32.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,703 shares of the financial services provider’s stock after selling 823 shares during the period. Summit Trail Advisors LLC’s holdings in Primerica were worth $350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRI. Sapient Capital LLC acquired a new stake in shares of Primerica in the fourth quarter worth approximately $474,000. Running Oak Capital LLC grew its stake in shares of Primerica by 13.2% during the 4th quarter. Running Oak Capital LLC now owns 44,340 shares of the financial services provider’s stock valued at $9,123,000 after buying an additional 5,169 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Primerica by 47.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock worth $25,840,000 after buying an additional 40,647 shares during the last quarter. New York Life Investment Management LLC raised its position in shares of Primerica by 6.5% in the 4th quarter. New York Life Investment Management LLC now owns 4,092 shares of the financial services provider’s stock worth $842,000 after buying an additional 248 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Primerica by 37.4% in the fourth quarter. Van ECK Associates Corp now owns 9,161 shares of the financial services provider’s stock valued at $1,885,000 after acquiring an additional 2,494 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial raised their price objective on Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Morgan Stanley increased their price objective on shares of Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Raymond James cut Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Primerica presently has an average rating of “Hold” and an average price target of $245.50.

Primerica Price Performance

Shares of PRI stock opened at $220.17 on Wednesday. The firm has a market cap of $7.64 billion, a P/E ratio of 13.81 and a beta of 1.10. The firm has a fifty day moving average of $236.60 and a two-hundred day moving average of $223.48. Primerica, Inc. has a 1-year low of $176.81 and a 1-year high of $256.56.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing the consensus estimate of $4.12 by ($0.21). The firm had revenue of $742.83 million during the quarter, compared to the consensus estimate of $740.57 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.49 earnings per share. On average, sell-side analysts expect that Primerica, Inc. will post 17.78 EPS for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 21st will be given a $0.75 dividend. The ex-dividend date is Monday, May 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.36%. Primerica’s payout ratio is currently 18.89%.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the completion of the transaction, the president now directly owns 13,259 shares in the company, valued at $3,227,373.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director John A. Jr. Addison sold 1,215 shares of Primerica stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total value of $302,535.00. Following the sale, the director now directly owns 16,467 shares in the company, valued at approximately $4,100,283. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $243.41, for a total value of $365,115.00. Following the sale, the president now directly owns 13,259 shares in the company, valued at approximately $3,227,373.19. The disclosure for this sale can be found here. In the last three months, insiders sold 6,708 shares of company stock valued at $1,648,677. Company insiders own 0.61% of the company’s stock.

Primerica 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.