Marks Group Wealth Management Inc Sells 3,286 Shares of Primerica, Inc. $PRI

Marks Group Wealth Management Inc reduced its position in Primerica, Inc. (NYSE:PRI) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,899 shares of the financial services provider’s stock after selling 3,286 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Primerica were worth $7,466,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PRI. Vista Investment Partners II LLC purchased a new stake in shares of Primerica during the fourth quarter valued at about $1,685,000. First Trust Advisors LP lifted its position in shares of Primerica by 12.4% during the third quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock valued at $136,597,000 after buying an additional 54,158 shares during the last quarter. M&T Bank Corp lifted its position in shares of Primerica by 1,155.8% during the fourth quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock valued at $8,303,000 after buying an additional 29,578 shares during the last quarter. Prana Capital Management LP lifted its position in shares of Primerica by 22.8% during the third quarter. Prana Capital Management LP now owns 66,916 shares of the financial services provider’s stock valued at $18,575,000 after buying an additional 12,432 shares during the last quarter. Finally, Moran Wealth Management LLC lifted its position in shares of Primerica by 168.6% during the fourth quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock valued at $5,302,000 after buying an additional 12,881 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Insider Activity

In other news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president owned 9,811 shares in the company, valued at $2,743,548.04. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by company insiders.

Primerica Stock Down 1.0%

PRI opened at $263.26 on Tuesday. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $288.03. The company has a market cap of $8.21 billion, a P/E ratio of 11.04 and a beta of 0.88. The firm’s 50-day moving average price is $269.49 and its 200-day moving average price is $262.18.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. During the same quarter in the prior year, the company posted $5.02 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, 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 will be paid on Friday, June 12th. Stockholders of record on Thursday, May 21st will be issued a dividend of $1.20 per share. The ex-dividend date is Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. Primerica’s dividend payout ratio is 20.13%.

Wall Street Analysts Forecast Growth

PRI has been the subject of several analyst reports. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Morgan Stanley increased their price target on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $297.80.

Primerica Company Profile

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.