Primerica, Inc. (NYSE:PRI) Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC cut its stake in shares of Primerica, Inc. (NYSE:PRI) by 52.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 111 shares of the financial services provider’s stock after selling 122 shares during the period. Sound Income Strategies LLC’s holdings in Primerica were worth $28,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRI. Riverview Trust Co purchased a new stake in Primerica during the 1st quarter worth approximately $209,000. Ballentine Partners LLC purchased a new stake in Primerica during the 1st quarter worth approximately $207,000. Running Oak Capital LLC raised its position in shares of Primerica by 8.1% during the 1st quarter. Running Oak Capital LLC now owns 47,911 shares of the financial services provider’s stock valued at $12,120,000 after acquiring an additional 3,571 shares in the last quarter. BTC Capital Management Inc. acquired a new stake in shares of Primerica during the 1st quarter valued at approximately $577,000. Finally, NBC Securities Inc. raised its position in shares of Primerica by 16.2% during the 1st quarter. NBC Securities Inc. now owns 4,907 shares of the financial services provider’s stock valued at $1,241,000 after acquiring an additional 683 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated 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 owns 48,322 shares of the company’s stock, valued at $10,764,208.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated 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 owns 48,322 shares of the company’s stock, valued at $10,764,208.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $227.44, for a total value of $341,160.00. Following the transaction, the president now directly owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

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

Primerica Stock Performance

NYSE:PRI opened at $236.40 on Friday. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $256.56. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 14.39 and a beta of 1.08. The business has a fifty day moving average of $224.81 and a 200-day moving average of $229.00.

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

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $3.00 annualized dividend and a yield of 1.27%. Primerica’s dividend payout ratio is currently 18.26%.

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.