Primerica, Inc. $PRI Stake Reduced by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in Primerica, Inc. (NYSE:PRI) by 52.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,110 shares of the financial services provider’s stock after selling 7,873 shares during the quarter. Hsbc Holdings PLC’s holdings in Primerica were worth $1,844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of PRI. V Square Quantitative Management LLC bought a new stake in shares of Primerica in the 4th quarter worth approximately $30,000. Smartleaf Asset Management LLC boosted its holdings in Primerica by 68.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock worth $47,000 after buying an additional 73 shares in the last quarter. Torren Management LLC acquired a new position in Primerica in the fourth quarter worth approximately $50,000. Hantz Financial Services Inc. grew its position in Primerica by 18.1% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock worth $66,000 after buying an additional 39 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Primerica in the fourth quarter valued at $67,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Price Performance

Primerica stock opened at $286.62 on Tuesday. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $288.03. The firm’s 50 day simple moving average is $276.11 and its 200-day simple moving average is $264.76. The company has a market cap of $8.94 billion, a P/E ratio of 12.02 and a beta of 0.88.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, beating the consensus estimate of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The business had revenue of $872.30 million during the quarter, compared to the consensus estimate of $855.36 million. During the same quarter in the prior year, the firm earned $5.02 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts expect that Primerica, Inc. will post 24.45 EPS for the current fiscal year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 21st. Primerica’s payout ratio is 20.13%.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president owned 9,811 shares in the company, valued at approximately $2,743,548.04. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the transaction, the chief executive officer directly owned 33,696 shares in the company, valued at $9,451,391.04. The trade was a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PRI. Weiss Ratings upgraded Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Morgan Stanley lifted their target price on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Finally, Keefe, Bruyette & Woods boosted their target price on Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $297.80.

Primerica 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.