Marks Group Wealth Management Inc Reduces Holdings in Primerica, Inc. (NYSE:PRI)

Marks Group Wealth Management Inc lowered its position in Primerica, Inc. (NYSE:PRI) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,899 shares of the financial services provider’s stock after selling 256 shares during the quarter. Marks Group Wealth Management Inc owned about 0.10% of Primerica worth $5,816,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PRI. Kayne Anderson Rudnick Investment Management LLC raised its position in Primerica by 4.3% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,010,533 shares of the financial services provider’s stock worth $592,841,000 after purchasing an additional 166,973 shares during the period. BlackRock Inc. boosted its position in Primerica by 3.0% during the 1st quarter. BlackRock Inc. now owns 3,503,909 shares of the financial services provider’s stock valued at $517,947,000 after acquiring an additional 100,932 shares in the last quarter. Brave Warrior Advisors LLC increased its holdings in shares of Primerica by 13.1% in the 1st quarter. Brave Warrior Advisors LLC now owns 1,888,591 shares of the financial services provider’s stock valued at $279,171,000 after acquiring an additional 218,581 shares during the period. Burgundy Asset Management Ltd. lifted its stake in shares of Primerica by 0.3% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,210,294 shares of the financial services provider’s stock worth $178,906,000 after purchasing an additional 4,178 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Primerica by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 766,120 shares of the financial services provider’s stock valued at $113,252,000 after purchasing an additional 7,222 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

A number of analysts have recently weighed in on the stock. raised their price target on shares of Primerica from $140.00 to $144.00 and gave the company a “sell” rating in a report on Monday, June 21st. Zacks Investment Research downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Saturday.

In related news, President Peter W. Schneider sold 3,500 shares of the business’s stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $152.54, for a total transaction of $533,890.00. Following the transaction, the president now directly owns 22,672 shares in the company, valued at $3,458,386.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alison S. Rand sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $152.20, for a total transaction of $228,300.00. Following the completion of the transaction, the chief financial officer now directly owns 13,347 shares in the company, valued at $2,031,413.40. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Shares of PRI stock traded up $1.83 on Wednesday, hitting $149.54. The company had a trading volume of 751 shares, compared to its average volume of 133,973. Primerica, Inc. has a twelve month low of $107.63 and a twelve month high of $165.35. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.06. The firm has a market cap of $5.90 billion, a P/E ratio of 13.42 and a beta of 1.48. The company has a 50-day moving average price of $148.47 and a 200-day moving average price of $152.81.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 14th. Investors of record on Friday, August 20th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Thursday, August 19th. Primerica’s dividend payout ratio (DPR) is presently 19.38%.

Primerica Company Profile

Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.

Further Reading: What is the Beige Book?

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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