WBI Investments LLC Sells 2,529 Shares of Primerica, Inc. $PRI

WBI Investments LLC lowered its stake in shares of Primerica, Inc. (NYSE:PRI) by 25.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,559 shares of the financial services provider’s stock after selling 2,529 shares during the quarter. WBI Investments LLC’s holdings in Primerica were worth $2,069,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PRI. Vanguard Group Inc. grew its position in Primerica by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider’s stock worth $994,048,000 after purchasing an additional 37,994 shares during the last quarter. Burgundy Asset Management Ltd. grew its position in Primerica by 1.7% during the first quarter. Burgundy Asset Management Ltd. now owns 1,310,019 shares of the financial services provider’s stock worth $372,740,000 after buying an additional 21,546 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Primerica by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 611,437 shares of the financial services provider’s stock valued at $173,963,000 after acquiring an additional 16,350 shares during the period. Nuveen LLC acquired a new position in Primerica in the 1st quarter valued at approximately $156,019,000. Finally, Fiduciary Management Inc. WI lifted its position in shares of Primerica by 2.8% in the 1st quarter. Fiduciary Management Inc. WI now owns 490,923 shares of the financial services provider’s stock worth $139,682,000 after acquiring an additional 13,402 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Trading Up 0.4%

Shares of Primerica stock opened at $254.98 on Tuesday. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 11.72 and a beta of 0.96. The firm’s 50-day moving average price is $266.92 and its two-hundred day moving average price is $267.11. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 EPS for the quarter, topping the consensus estimate of $5.52 by $0.81. The business had revenue of $838.88 million for the quarter, compared to the consensus estimate of $817.81 million. Primerica had a return on equity of 31.75% and a net margin of 22.36%.Primerica’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.83 EPS. As a group, equities research analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 21st will be paid a $1.04 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. Primerica’s payout ratio is currently 19.12%.

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $255.30, for a total transaction of $510,600.00. Following the sale, the president owned 7,301 shares of the company’s stock, valued at $1,863,945.30. This represents a 21.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $259.65, for a total transaction of $649,125.00. Following the completion of the sale, the chief executive officer owned 33,892 shares of the company’s stock, valued at $8,800,057.80. The trade was a 6.87% decrease in their position. The SEC filing for this sale provides additional information. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PRI has been the topic of several recent research reports. BMO Capital Markets raised Primerica from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $292.00 to $318.00 in a report on Tuesday, September 23rd. Morgan Stanley lowered their target price on shares of Primerica from $306.00 to $301.00 and set an “equal weight” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods cut their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Primerica in a report on Wednesday, October 8th. Finally, Piper Sandler set a $292.00 target price on Primerica and gave the stock a “neutral” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $309.00.

Primerica Company 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.