PNC Financial Services Group Inc. Sells 599 Shares of Primerica, Inc. (NYSE:PRI)

PNC Financial Services Group Inc. lessened its holdings in shares of Primerica, Inc. (NYSE:PRI) by 8.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,665 shares of the financial services provider’s stock after selling 599 shares during the period. PNC Financial Services Group Inc.’s holdings in Primerica were worth $1,371,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. ORG Partners LLC bought a new position in Primerica in the fourth quarter valued at about $26,000. Sound Income Strategies LLC boosted its holdings in Primerica by 121.9% in the fourth quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 128 shares during the last quarter. GAMMA Investing LLC bought a new position in Primerica during the fourth quarter worth about $133,000. O Dell Group LLC bought a new position in Primerica during the fourth quarter worth about $153,000. Finally, Assetmark Inc. boosted its holdings in Primerica by 30.9% during the fourth quarter. Assetmark Inc. now owns 882 shares of the financial services provider’s stock worth $181,000 after buying an additional 208 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PRI shares. Morgan Stanley raised their target price on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods raised their price target on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $245.50.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total transaction of $668,280.00. Following the completion of the transaction, the chief executive officer now directly owns 48,322 shares in the company, valued at approximately $10,764,208.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total transaction of $668,280.00. Following the completion of the transaction, the chief executive officer now directly owns 48,322 shares in the company, valued at approximately $10,764,208.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the transaction, the president now owns 11,759 shares of the company’s stock, valued at $2,674,466.96. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.

Primerica Stock Performance

Shares of Primerica stock opened at $235.88 on Friday. The business’s 50 day simple moving average is $222.92 and its 200 day simple moving average is $228.42. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $256.56. The firm has a market cap of $8.12 billion, a PE ratio of 14.36 and a beta of 1.08.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). The company had revenue of $742.83 million during the quarter, compared to the consensus estimate of $740.57 million. Primerica had a net margin of 20.44% and a return on equity of 27.35%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.49 earnings per share. As a group, equities research analysts predict that Primerica, Inc. will post 17.66 EPS for the current year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were paid a $0.75 dividend. The ex-dividend date was Monday, May 20th. This represents a $3.00 dividend on an annualized basis and a yield of 1.27%. Primerica’s dividend payout ratio is 18.26%.

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.