Maryland State Retirement & Pension System Decreases Holdings in Primerica, Inc. (NYSE:PRI)

Maryland State Retirement & Pension System decreased its position in Primerica, Inc. (NYSE:PRI) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,798 shares of the financial services provider’s stock after selling 176 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Primerica were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. lifted its position in Primerica by 187.1% in the third quarter. Advisors Asset Management Inc. now owns 643 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 419 shares during the last quarter. Great Valley Advisor Group Inc. bought a new stake in Primerica during the 3rd quarter valued at $398,000. Kingsview Wealth Management LLC raised its holdings in Primerica by 0.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after buying an additional 43 shares during the last quarter. Cerity Partners LLC purchased a new stake in Primerica during the 3rd quarter valued at $983,000. Finally, Larson Financial Group LLC grew its holdings in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PRI shares. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. TD Cowen increased their price objective on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. BMO Capital Markets started coverage on Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Keefe, Bruyette & Woods raised their price target on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, Piper Sandler cut their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $309.86.

Primerica Price Performance

Shares of Primerica stock opened at $290.50 on Wednesday. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 21.13 and a beta of 1.12. The company has a 50-day moving average of $286.37 and a 200 day moving average of $281.23.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, equities analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were paid a $1.04 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s dividend payout ratio is currently 30.25%.

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at approximately $56,030. This represents a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 over the last three months. 0.85% of the stock is currently owned by corporate insiders.

Primerica Company 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.