Primerica, Inc. (NYSE:PRI) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in Primerica, Inc. (NYSE:PRI) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,595 shares of the financial services provider’s stock after selling 90 shares during the period. Bank of Montreal Can owned approximately 0.10% of Primerica worth $9,390,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dana Investment Advisors Inc. lifted its stake in Primerica by 1.2% in the fourth quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock valued at $1,012,000 after buying an additional 45 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Primerica by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider’s stock worth $301,000 after purchasing an additional 54 shares during the period. Assetmark Inc. grew its position in Primerica by 3.9% during the 4th quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 57 shares during the last quarter. Everhart Financial Group Inc. increased its stake in Primerica by 2.5% in the fourth quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider’s stock valued at $726,000 after purchasing an additional 65 shares during the period. Finally, Allworth Financial LP increased its stake in Primerica by 27.3% in the fourth quarter. Allworth Financial LP now owns 331 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 71 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica 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 transaction, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were 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 trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is owned by corporate insiders.

Primerica Stock Performance

Shares of NYSE PRI opened at $251.76 on Monday. The company’s fifty day moving average is $279.38 and its two-hundred day moving average is $282.05. The firm has a market capitalization of $8.33 billion, a P/E ratio of 18.31 and a beta of 1.03. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share 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%. On average, sell-side analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid 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 yield of 1.65%. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Wall Street Analysts Forecast Growth

PRI has been the topic of a number of research reports. BMO Capital Markets assumed coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target on the stock. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods decreased their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Wednesday, April 9th. Piper Sandler dropped their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $309.14.

About Primerica

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.