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

Cynosure Group LLC reduced its stake in Primerica, Inc. (NYSE:PRI) by 25.5% in the fourth quarter, HoldingsChannel.com reports. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in PRI. Golden State Wealth Management LLC bought a new position in Primerica during the 4th quarter worth $33,000. EverSource Wealth Advisors LLC grew its position in shares of Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 71 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Primerica by 116.2% in the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 115 shares during the period. UMB Bank n.a. lifted its position in Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 95 shares during the last quarter. Finally, Quarry LP boosted its stake in Primerica by 629.2% during the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 302 shares during the period. 90.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PRI has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Piper Sandler cut their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. BMO Capital Markets initiated coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target for the company. Keefe, Bruyette & Woods lifted their price objective 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. Finally, StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Primerica has an average rating of “Hold” and an average target price of $309.86.

Insider Activity

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now directly owns 200 shares in the company, valued at approximately $56,030. The trade was a 53.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica 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 transaction, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. This represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock valued at $1,476,575 over the last three months. Insiders own 0.61% of the company’s stock.

Primerica Trading Up 1.3 %

Shares of Primerica stock opened at $288.27 on Wednesday. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The company’s 50-day moving average price is $286.11 and its two-hundred day moving average price is $282.43. The stock has a market cap of $9.59 billion, a PE ratio of 20.96 and a beta of 1.12.

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

Primerica Increases Dividend

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

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.