Crossmark Global Holdings Inc. Sells 7,423 Shares of Primerica, Inc. $PRI

Crossmark Global Holdings Inc. lowered its stake in shares of Primerica, Inc. (NYSE:PRI) by 67.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,555 shares of the financial services provider’s stock after selling 7,423 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Primerica were worth $987,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRI. Root Financial Partners LLC bought a new stake in shares of Primerica during the 3rd quarter valued at $27,000. Smartleaf Asset Management LLC grew its holdings in shares of Primerica by 186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 69 shares in the last quarter. Quent Capital LLC bought a new position in shares of Primerica in the third quarter worth $33,000. First Horizon Advisors Inc. raised its stake in Primerica by 1,714.3% in the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 120 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in Primerica by 620.0% in the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 186 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Keefe, Bruyette & Woods dropped their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Tuesday, November 11th. Morgan Stanley reduced their price target on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, TD Cowen restated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $298.60.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total transaction of $641,025.00. Following the sale, the chief executive officer owned 27,392 shares of the company’s stock, valued at approximately $7,023,582.72. The trade was a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

Primerica Trading Down 1.7%

Shares of NYSE PRI opened at $252.93 on Tuesday. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 11.03 and a beta of 0.92. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $296.00. The stock has a 50-day moving average price of $260.53 and a two-hundred day moving average price of $262.99.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, topping analysts’ consensus estimates of $5.69 by $0.44. The firm had revenue of $853.51 million during the quarter, compared to analysts’ expectations of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.03 earnings per share. On average, sell-side analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be given a $1.20 dividend. This is an increase from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, February 23rd. Primerica’s dividend payout ratio (DPR) is 20.93%.

Primerica announced that its board has authorized a stock buyback plan on Wednesday, November 19th that permits the company to buyback $475.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 5.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Primerica Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.