Commerce Bank Has $3.04 Million Holdings in Primerica, Inc. (NYSE:PRI)

Commerce Bank lessened its position in Primerica, Inc. (NYSE:PRI - Free Report) by 10.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,186 shares of the financial services provider's stock after selling 1,345 shares during the period. Commerce Bank's holdings in Primerica were worth $3,036,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in Primerica in the fourth quarter worth about $33,000. EverSource Wealth Advisors LLC grew its stake in shares of Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock worth $34,000 after purchasing an additional 71 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Primerica by 116.2% in the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock worth $58,000 after purchasing an additional 115 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider's stock worth $65,000 after purchasing an additional 95 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Primerica by 182.2% during the fourth quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider's stock valued at $69,000 after purchasing an additional 164 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PRI shares. Keefe, Bruyette & Woods cut their target price on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley cut their price objective on Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. BMO Capital Markets initiated coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 target price for the company. Finally, StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Primerica has a consensus rating of "Hold" and a consensus price target of $309.14.

Primerica Trading Down 0.7 %

PRI stock traded down $1.89 during midday trading on Friday, reaching $261.63. The company had a trading volume of 112,794 shares, compared to its average volume of 158,556. The company has a 50 day moving average of $273.41 and a two-hundred day moving average of $281.13. Primerica, Inc. has a 1 year low of $211.53 and a 1 year high of $307.91. The company has a market capitalization of $8.66 billion, a P/E ratio of 19.03 and a beta of 1.03.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts' consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, sell-side analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.59%. The ex-dividend date was Friday, February 21st. This is a positive change from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio (DPR) is presently 30.25%.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the sale, the insider now owns 200 shares of the company's stock, valued at $56,030. This represents a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Primerica Profile

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.