JPMorgan Chase & Co. Sells 3,657 Shares of Primerica, Inc. $PRI

JPMorgan Chase & Co. trimmed its holdings in shares of Primerica, Inc. (NYSE:PRI) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 132,658 shares of the financial services provider’s stock after selling 3,657 shares during the quarter. JPMorgan Chase & Co. owned 0.41% of Primerica worth $36,827,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Integrated Wealth Concepts LLC increased its stake in Primerica by 20.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock worth $609,000 after buying an additional 366 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Primerica by 27.7% during the first quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock worth $36,894,000 after acquiring an additional 28,129 shares during the period. Empowered Funds LLC purchased a new position in shares of Primerica during the first quarter worth approximately $1,763,000. Focus Partners Wealth raised its stake in shares of Primerica by 17.5% during the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 208 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Primerica by 205.8% in the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 177 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. TD Cowen restated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Zacks Research downgraded Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Keefe, Bruyette & Woods lowered their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Tuesday, November 11th. Finally, Morgan Stanley set a $292.00 target price on shares of Primerica in a report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $300.00.

Primerica Trading Down 2.2%

PRI opened at $253.58 on Friday. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 11.06 and a beta of 0.91. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $296.00. The stock has a fifty day moving average price of $260.70 and a 200-day moving average price of $263.20.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.69 by $0.44. The company had revenue of $853.51 million for the quarter, compared to the consensus estimate of $839.65 million. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $5.03 earnings per share. On average, equities research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, February 23rd will be paid a dividend of $1.20 per share. This is a boost from Primerica’s previous quarterly dividend of $1.04. The ex-dividend date is Monday, February 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. Primerica’s dividend payout ratio (DPR) is presently 20.93%.

Primerica declared that its Board of Directors has approved a stock buyback plan on Wednesday, November 19th that authorizes the company to repurchase $475.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total transaction of $641,025.00. Following the transaction, the chief executive officer directly owned 27,392 shares of the company’s stock, valued at approximately $7,023,582.72. This represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joel M. Babbit sold 700 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total value of $178,500.00. Following the sale, the director owned 8,400 shares of the company’s stock, valued at approximately $2,142,000. This represents a 7.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.61% of the company’s stock.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.