Comerica Bank Sells 3,591 Shares of Primerica, Inc. (NYSE:PRI)

Comerica Bank decreased its holdings in Primerica, Inc. (NYSE:PRI) by 9.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,506 shares of the financial services provider’s stock after selling 3,591 shares during the period. Comerica Bank’s holdings in Primerica were worth $8,981,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new position in shares of Primerica in the 4th quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Primerica by 493.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 148 shares during the period. GAMMA Investing LLC bought a new stake in shares of Primerica in the 4th quarter worth about $133,000. Fidelis Capital Partners LLC purchased a new position in shares of Primerica during the 1st quarter worth about $163,000. Finally, O Dell Group LLC bought a new position in Primerica during the 4th quarter valued at about $153,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PRI. Keefe, Bruyette & Woods raised their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Morgan Stanley decreased their price target on Primerica from $245.00 to $243.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Jefferies Financial Group upped their price objective on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Finally, StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $260.50.

Primerica Trading Down 3.4 %

Shares of NYSE PRI traded down $8.52 during trading hours on Friday, reaching $243.80. The stock had a trading volume of 24,189 shares, compared to its average volume of 166,495. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $256.56. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 15.37 and a beta of 1.09. The business’s fifty day moving average price is $236.27 and its two-hundred day moving average price is $235.16.

Primerica (NYSE:PRI) last issued its earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing the consensus estimate of $4.12 by ($0.21). Primerica had a return on equity of 27.35% and a net margin of 20.44%. The firm had revenue of $742.83 million during the quarter, compared to analysts’ expectations of $740.57 million. During the same quarter in the prior year, the company posted $3.49 earnings per share. Primerica’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that Primerica, Inc. will post 17.73 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Monday, May 20th. Primerica’s payout ratio is 18.26%.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $227.44, for a total value of $341,160.00. Following the completion of the sale, the president now owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. 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 business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $222.76, for a total value of $668,280.00. Following the completion of the transaction, the chief executive officer now directly owns 48,322 shares in the company, valued at $10,764,208.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $227.44, for a total transaction of $341,160.00. Following the completion of the sale, the president now owns 11,759 shares in the company, valued at $2,674,466.96. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

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.