Venturi Wealth Management LLC Sells 347 Shares of Primerica, Inc. (NYSE:PRI)

Venturi Wealth Management LLC cut its holdings in shares of Primerica, Inc. (NYSE:PRI) by 77.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99 shares of the financial services provider’s stock after selling 347 shares during the quarter. Venturi Wealth Management LLC’s holdings in Primerica were worth $26,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Creative Planning raised its stake in Primerica by 0.7% during the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $1,613,000 after purchasing an additional 40 shares during the period. Blue Trust Inc. grew its holdings in Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after buying an additional 60 shares in the last quarter. GPS Wealth Strategies Group LLC raised its position in shares of Primerica by 2.4% during the second quarter. GPS Wealth Strategies Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $625,000 after buying an additional 62 shares during the last quarter. SkyView Investment Advisors LLC lifted its holdings in shares of Primerica by 1.0% in the second quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider’s stock worth $1,484,000 after buying an additional 62 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the sale, the president now owns 10,259 shares of the company’s stock, valued at $2,678,727.49. The trade was a 12.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock worth $1,803,175 over the last quarter. Company insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a report on Thursday. Piper Sandler started coverage on Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price on the stock. Truist Financial raised their price target on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, TD Cowen started coverage on Primerica in a report on Wednesday, October 9th. They set a “buy” rating and a $314.00 price objective on the stock. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $288.33.

Primerica Trading Up 0.6 %

Shares of PRI opened at $298.61 on Friday. The company’s fifty day simple moving average is $273.65 and its 200-day simple moving average is $251.14. The company has a market cap of $9.96 billion, a P/E ratio of 22.81 and a beta of 1.08. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $304.84.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The business had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. During the same quarter in the previous year, the business earned $4.28 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts predict that Primerica, Inc. will post 19.12 earnings per share for the current fiscal year.

Primerica declared that its board has approved a stock repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Primerica Company 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.