Orion Portfolio Solutions LLC Reduces Stake in Primerica, Inc. (NYSE:PRI)

Orion Portfolio Solutions LLC decreased its holdings in shares of Primerica, Inc. (NYSE:PRI) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,070 shares of the financial services provider’s stock after selling 73 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Primerica were worth $1,105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA boosted its holdings in shares of Primerica by 6.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,863 shares of the financial services provider’s stock valued at $1,320,000 after buying an additional 312 shares in the last quarter. Norges Bank purchased a new stake in Primerica in the fourth quarter valued at $1,906,000. Blair William & Co. IL boosted its stake in Primerica by 3.6% in the fourth quarter. Blair William & Co. IL now owns 12,617 shares of the financial services provider’s stock valued at $3,424,000 after acquiring an additional 438 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Primerica by 11.4% during the fourth quarter. JPMorgan Chase & Co. now owns 117,308 shares of the financial services provider’s stock worth $31,840,000 after purchasing an additional 11,996 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Primerica by 14.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 17,901 shares of the financial services provider’s stock valued at $4,859,000 after purchasing an additional 2,262 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Down 9.9 %

NYSE PRI opened at $248.16 on Friday. The stock has a market capitalization of $8.25 billion, a P/E ratio of 18.05 and a beta of 1.12. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91. The firm has a 50-day moving average price of $284.91 and a 200 day moving average price of $282.38.

Primerica (NYSE:PRI) last posted its quarterly 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 return on equity of 31.11% and a net margin of 15.14%. On average, equities research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is currently 30.25%.

Analyst Ratings Changes

Several research firms have commented on PRI. Keefe, Bruyette & Woods lifted their price target on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target for the company. Morgan Stanley decreased their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Finally, Piper Sandler lowered their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Primerica presently has a consensus rating of “Hold” and an average target price of $309.86.

Insider Activity at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction 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 directly owns 200 shares of the company’s stock, valued at approximately $56,030. The trade was a 53.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value 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 $9,388,140.28. This trade represents a 8.26 % 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 90 days. Company insiders own 0.61% of the company’s stock.

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.