Primerica, Inc. (NYSE:PRI) Shares Sold by J.P. Morgan Private Wealth Advisors LLC

J.P. Morgan Private Wealth Advisors LLC lessened its stake in Primerica, Inc. (NYSE:PRIFree Report) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,807 shares of the financial services provider’s stock after selling 1,349 shares during the period. J.P. Morgan Private Wealth Advisors LLC owned about 0.06% of Primerica worth $4,425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC acquired a new position in Primerica in the fourth quarter worth $210,472,000. Norges Bank acquired a new position in Primerica in the fourth quarter worth $50,974,000. Victory Capital Management Inc. boosted its holdings in Primerica by 27.4% in the fourth quarter. Victory Capital Management Inc. now owns 811,888 shares of the financial services provider’s stock worth $115,142,000 after purchasing an additional 174,822 shares during the period. Comerica Bank acquired a new position in Primerica in the second quarter worth $22,500,000. Finally, Royal London Asset Management Ltd. boosted its holdings in Primerica by 52.8% in the first quarter. Royal London Asset Management Ltd. now owns 232,091 shares of the financial services provider’s stock worth $31,748,000 after purchasing an additional 80,152 shares during the period. Institutional investors own 90.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PRI. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Morgan Stanley lifted their price objective on shares of Primerica from $190.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 15th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $219.20.

Read Our Latest Report on Primerica

Insider Buying and Selling at Primerica

In other Primerica news, CFO Alison S. Rand sold 3,000 shares of Primerica stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $210.07, for a total transaction of $630,210.00. Following the transaction, the chief financial officer now owns 6,444 shares of the company’s stock, valued at approximately $1,353,691.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.85% of the company’s stock.

Primerica Trading Up 0.9 %

NYSE PRI opened at $233.07 on Thursday. The stock’s 50-day moving average price is $215.83 and its two-hundred day moving average price is $208.04. The company has a market cap of $8.16 billion, a PE ratio of 15.41 and a beta of 1.07. Primerica, Inc. has a 1 year low of $155.68 and a 1 year high of $236.71.

Primerica (NYSE:PRIGet Free Report) last posted its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.25. Primerica had a return on equity of 28.00% and a net margin of 19.94%. The firm had revenue of $710.90 million for the quarter, compared to the consensus estimate of $703.50 million. During the same quarter in the previous year, the company earned $3.02 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts forecast that Primerica, Inc. will post 16.06 EPS for the current fiscal year.

Primerica announced that its Board of Directors has approved a stock buyback plan on Thursday, November 16th that permits the company to repurchase $425.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 5.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Primerica Company Profile

(Free Report)

Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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