Primerica, Inc. (NYSE:PRI) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in Primerica, Inc. (NYSE:PRI) by 3.1% in the third quarter, HoldingsChannel reports. The fund owned 12,530 shares of the financial services provider’s stock after selling 400 shares during the period. New York State Teachers Retirement System’s holdings in Primerica were worth $3,322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PRI. ORG Partners LLC acquired a new position in shares of Primerica during the 2nd quarter worth approximately $30,000. V Square Quantitative Management LLC acquired a new position in shares of Primerica during the 3rd quarter worth approximately $31,000. UMB Bank n.a. raised its stake in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares during the period. Blue Trust Inc. raised its stake in shares of Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after buying an additional 60 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Primerica during the 2nd quarter worth approximately $71,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PRI. TD Cowen began coverage on Primerica in a research note on Wednesday, October 9th. They set a “buy” rating and a $314.00 target price for the company. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Monday. Morgan Stanley increased their price objective on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Piper Sandler began coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. Finally, Truist Financial increased their price objective on Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Six 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, the stock currently has an average rating of “Hold” and an average target price of $281.67.

Primerica Stock Up 5.1 %

Shares of NYSE:PRI opened at $290.94 on Thursday. The business has a fifty day moving average of $268.36 and a two-hundred day moving average of $247.42. The stock has a market cap of $9.84 billion, a P/E ratio of 23.29 and a beta of 1.08. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $295.67.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.24. The company had revenue of $803.38 million during the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.99 EPS. On average, equities analysts anticipate that Primerica, Inc. will post 18.13 earnings per share for the current year.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the sale, the chief executive officer now directly owns 45,322 shares in the company, valued at $11,446,071.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the sale, the chief executive officer now directly owns 45,322 shares in the company, valued at $11,446,071.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the transaction, the president now owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $1,657,015 in the last three months. 0.61% of the stock is owned by corporate insiders.

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.