Axxcess Wealth Management LLC Has $219,000 Holdings in Primerica, Inc. $PRI

Axxcess Wealth Management LLC decreased its stake in shares of Primerica, Inc. (NYSE:PRI) by 5.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 799 shares of the financial services provider’s stock after selling 47 shares during the period. Axxcess Wealth Management LLC’s holdings in Primerica were worth $219,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Atria Wealth Solutions Inc. increased its holdings in shares of Primerica by 7.0% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 1,259 shares of the financial services provider’s stock valued at $345,000 after acquiring an additional 82 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Primerica by 92.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 7,191 shares of the financial services provider’s stock valued at $1,968,000 after acquiring an additional 3,448 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Primerica during the 2nd quarter valued at about $232,000. Vest Financial LLC increased its holdings in shares of Primerica by 23.8% during the 2nd quarter. Vest Financial LLC now owns 15,170 shares of the financial services provider’s stock valued at $4,152,000 after acquiring an additional 2,920 shares during the last quarter. Finally, Meritage Portfolio Management increased its holdings in shares of Primerica by 2.9% during the 2nd quarter. Meritage Portfolio Management now owns 3,205 shares of the financial services provider’s stock valued at $877,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Trading Up 2.2%

Shares of PRI stock opened at $264.04 on Friday. The stock has a 50 day moving average of $270.23 and a two-hundred day moving average of $266.51. Primerica, Inc. has a 12 month low of $230.98 and a 12 month high of $307.91. The company has a market capitalization of $8.55 billion, a P/E ratio of 13.05 and a beta of 0.97.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.28. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The company had revenue of $796.02 million during the quarter, compared to the consensus estimate of $790.99 million. During the same quarter last year, the company earned $4.71 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 22nd were given a $1.04 dividend. The ex-dividend date was Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. Primerica’s dividend payout ratio (DPR) is currently 20.55%.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of analyst reports. Jefferies Financial Group lowered their price objective on Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a report on Monday, August 11th. Weiss Ratings restated a “buy (b)” rating on shares of Primerica in a research note on Wednesday, October 8th. BMO Capital Markets upgraded Primerica from a “market perform” rating to an “outperform” rating and increased their target price for the company from $292.00 to $318.00 in a research note on Tuesday, September 23rd. Keefe, Bruyette & Woods increased their target price on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Monday, August 11th. Finally, Morgan Stanley decreased their target price on Primerica from $308.00 to $306.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $314.86.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the completion of the sale, the chief executive officer owned 36,392 shares in the company, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

About Primerica

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.