BlackRock Inc. cut its stake in Primerica, Inc. (NYSE:PRI) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,503,153 shares of the financial services provider’s stock after selling 56,417 shares during the period. BlackRock Inc. owned about 0.10% of Primerica worth $542,856,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its holdings in Primerica by 129.8% in the second quarter. Canada Pension Plan Investment Board now owns 19,300 shares of the financial services provider’s stock valued at $1,922,000 after purchasing an additional 10,900 shares during the period. AGF Investments Inc. boosted its holdings in Primerica by 3.3% in the second quarter. AGF Investments Inc. now owns 678,117 shares of the financial services provider’s stock valued at $67,540,000 after purchasing an additional 21,920 shares during the period. James Investment Research Inc. purchased a new position in Primerica in the third quarter valued at $2,188,000. Wells Fargo & Company MN lifted its holdings in Primerica by 0.3% during the 3rd quarter. Wells Fargo & Company MN now owns 835,985 shares of the financial services provider’s stock worth $100,778,000 after buying an additional 2,191 shares during the last quarter. Finally, Prana Capital Management LP purchased a new stake in Primerica during the 2nd quarter worth about $12,256,000. Hedge funds and other institutional investors own 89.57% of the company’s stock.

Shares of NYSE PRI opened at $108.95 on Friday. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 19.74 and a beta of 1.19. Primerica, Inc. has a 1 year low of $90.05 and a 1 year high of $128.35.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.07. The company had revenue of $484.78 million during the quarter, compared to the consensus estimate of $478.87 million. Primerica had a return on equity of 21.72% and a net margin of 21.88%. Primerica’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 EPS. As a group, sell-side analysts predict that Primerica, Inc. will post 7.22 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, November 19th. Primerica’s dividend payout ratio (DPR) is 18.12%.

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $116.21, for a total transaction of $348,630.00. Following the sale, the chief executive officer now owns 65,287 shares in the company, valued at $7,587,002.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alison S. Rand sold 2,000 shares of Primerica stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $113.03, for a total value of $226,060.00. Following the sale, the chief financial officer now owns 20,861 shares in the company, valued at approximately $2,357,918.83. The disclosure for this sale can be found here. Insiders have sold a total of 10,952 shares of company stock valued at $1,296,711 over the last ninety days. 0.89% of the stock is owned by company insiders.

A number of analysts have issued reports on PRI shares. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Saturday, August 11th. ValuEngine downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Finally, Citigroup downgraded Primerica from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $100.00 to $108.00 in a report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $114.40.

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About Primerica

Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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