Prospector Partners LLC Sells 8,090 Shares of Primerica, Inc. (NYSE:PRI)

Prospector Partners LLC reduced its position in Primerica, Inc. (NYSE:PRI) by 9.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,845 shares of the financial services provider’s stock after selling 8,090 shares during the quarter. Primerica accounts for approximately 2.0% of Prospector Partners LLC’s holdings, making the stock its 13th biggest holding. Prospector Partners LLC owned approximately 0.22% of Primerica worth $18,180,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. lifted its position in shares of Primerica by 19.1% during the second quarter. Sei Investments Co. now owns 51,300 shares of the financial services provider’s stock worth $12,137,000 after purchasing an additional 8,227 shares during the last quarter. Pacer Advisors Inc. increased its stake in Primerica by 28.6% in the 2nd quarter. Pacer Advisors Inc. now owns 8,634 shares of the financial services provider’s stock worth $2,043,000 after buying an additional 1,920 shares during the period. Bridges Investment Management Inc. bought a new stake in Primerica during the 2nd quarter valued at about $363,000. Granite Investment Partners LLC bought a new stake in Primerica during the 2nd quarter valued at about $4,555,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Primerica by 207.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 548 shares of the financial services provider’s stock valued at $130,000 after buying an additional 370 shares during the period. Institutional investors own 90.88% of the company’s stock.

Primerica Trading Up 0.0 %

Shares of NYSE:PRI opened at $258.60 on Friday. The company has a market capitalization of $8.90 billion, a PE ratio of 15.74 and a beta of 1.09. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $265.27. The business’s fifty day simple moving average is $254.26 and its 200-day simple moving average is $240.00.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The company had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.99 earnings per share. Research analysts predict that Primerica, Inc. will post 17.94 EPS for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were given a $0.90 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.39%. This is an increase from Primerica’s previous quarterly dividend of $0.75. Primerica’s payout ratio is presently 21.91%.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Monday, August 26th. The shares were sold at an average price of $261.11, for a total value of $391,665.00. Following the transaction, the president now directly owns 10,259 shares of the company’s stock, valued at $2,678,727.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Primerica news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the sale, the president now owns 10,259 shares of the company’s stock, valued at $2,678,727.49. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the sale, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $1,657,015 in the last 90 days. 0.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PRI shares. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Morgan Stanley lifted their target price on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Truist Financial upped their target price on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Jefferies Financial Group raised their price target on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus price target of $275.20.

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.