Primerica, Inc. (NYSE:PRI) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury decreased its position in shares of Primerica, Inc. (NYSE:PRI) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,180 shares of the financial services provider’s stock after selling 400 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Primerica were worth $3,849,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PRI. Golden State Wealth Management LLC acquired a new stake in Primerica during the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC lifted its position in Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 71 shares during the period. Venturi Wealth Management LLC boosted its holdings in 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 purchasing an additional 115 shares during the last quarter. UMB Bank n.a. boosted its holdings in Primerica by 65.5% in the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 95 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in Primerica by 182.2% during the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 164 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling

In other news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,234 shares of company stock worth $1,476,575. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. BMO Capital Markets initiated coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley dropped their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $309.14.

Primerica Price Performance

PRI opened at $261.63 on Friday. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 19.03 and a beta of 1.03. The company’s 50 day simple moving average is $273.00 and its two-hundred day simple moving average is $281.09. Primerica, Inc. has a 1-year low of $211.53 and a 1-year high of $307.91.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, equities analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.59%. This is a positive change from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is currently 30.25%.

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.