Profund Advisors LLC Trims Holdings in Primerica, Inc. (NYSE:PRI)

Profund Advisors LLC trimmed its position in Primerica, Inc. (NYSE:PRI) by 28.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 999 shares of the financial services provider’s stock after selling 389 shares during the quarter. Profund Advisors LLC’s holdings in Primerica were worth $236,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in Primerica by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 12,506 shares of the financial services provider’s stock worth $3,164,000 after purchasing an additional 3,345 shares during the period. Blair William & Co. IL boosted its stake in Primerica by 24.5% in the 1st quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock worth $3,076,000 after purchasing an additional 2,393 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Primerica by 456.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock worth $2,164,000 after purchasing an additional 7,506 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Primerica by 136.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider’s stock worth $1,599,000 after purchasing an additional 3,649 shares during the period. Finally, Edgestream Partners L.P. bought a new position in Primerica in the 1st quarter worth approximately $979,000. 90.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PRI shares. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their price target on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Jefferies Financial Group increased their target price on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley increased 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. Finally, Truist Financial increased their target price on Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $275.20.

Primerica Stock Down 1.3 %

NYSE PRI opened at $263.17 on Friday. The company has a fifty day moving average of $255.75 and a two-hundred day moving average of $240.61. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 16.02 and a beta of 1.09. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $267.92.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping the consensus estimate of $4.47 by $0.24. The company had revenue of $803.38 million during the quarter, compared to analyst estimates of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. Primerica’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.99 earnings per share. Equities research analysts anticipate 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. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.37%. This is a positive change from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date was Wednesday, August 21st. Primerica’s payout ratio is presently 21.91%.

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.