Primerica, Inc. (NYSE:PRI) Shares Sold by Cynosure Group LLC

Cynosure Group LLC lessened its holdings in Primerica, Inc. (NYSE:PRI) by 25.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,252 shares of the financial services provider’s stock after selling 772 shares during the quarter. Cynosure Group LLC’s holdings in Primerica were worth $611,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cerity Partners LLC purchased a new stake in shares of Primerica in the 3rd quarter valued at $983,000. Quantbot Technologies LP purchased a new position in Primerica during the third quarter valued at approximately $426,000. BNP Paribas Financial Markets grew its stake in shares of Primerica by 320.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider’s stock worth $1,525,000 after purchasing an additional 4,383 shares during the period. Townsquare Capital LLC acquired a new position in shares of Primerica in the 3rd quarter valued at $225,000. Finally, Captrust Financial Advisors boosted its holdings in Primerica by 14.9% during the third quarter. Captrust Financial Advisors now owns 1,413 shares of the financial services provider’s stock worth $375,000 after buying an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analysts Set New Price Targets

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

Primerica Stock Up 1.3 %

Shares of Primerica stock opened at $288.27 on Wednesday. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 20.96 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 company’s 50-day simple moving average is $286.11 and its 200-day simple moving average is $282.43.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. Equities research analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a $1.04 dividend. This is an increase from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, February 21st. Primerica’s dividend payout ratio is currently 30.25%.

Insider Activity at Primerica

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the sale, the president now directly owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock valued at $1,476,575 over the last quarter. Insiders own 0.61% of the company’s stock.

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.