Shelton Capital Management Lowers Stock Holdings in Primerica, Inc. (NYSE:PRI)

Shelton Capital Management cut its holdings in Primerica, Inc. (NYSE:PRI) by 6.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,734 shares of the financial services provider’s stock after selling 128 shares during the period. Shelton Capital Management’s holdings in Primerica were worth $343,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Raleigh Capital Management Inc. boosted its position in shares of Primerica by 110.0% in the second quarter. Raleigh Capital Management Inc. now owns 126 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 66 shares during the last quarter. Covestor Ltd grew its stake in shares of Primerica by 74.7% during the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock valued at $35,000 after buying an additional 109 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Primerica during the 4th quarter worth $38,000. Compass Wealth Management LLC purchased a new stake in Primerica during the fourth quarter valued at about $50,000. Finally, IFP Advisors Inc purchased a new stake in Primerica during the second quarter valued at about $55,000. Hedge funds and other institutional investors own 90.56% of the company’s stock.

Primerica Trading Down 0.5 %

PRI opened at $207.89 on Tuesday. Primerica, Inc. has a twelve month low of $135.00 and a twelve month high of $220.00. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 13.75 and a beta of 1.16. The company has a fifty day simple moving average of $200.62 and a 200 day simple moving average of $198.77.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, November 7th. The financial services provider reported $4.28 earnings per share for the quarter, beating 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 company had revenue of $710.90 million during the quarter, compared to the consensus estimate of $703.50 million. During the same period last year, the firm earned $3.02 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. On average, analysts forecast that Primerica, Inc. will post 16 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, November 20th. Primerica’s payout ratio is 17.20%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRI. Jefferies Financial Group reduced their price objective on Primerica from $198.00 to $197.00 and set a “hold” rating on the stock in a research note on Thursday, September 14th. Truist Financial increased their price objective on shares of Primerica from $240.00 to $260.00 in a research report on Wednesday, August 9th. Morgan Stanley lifted their target price on shares of Primerica from $190.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, November 15th. Finally, StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $219.20.

Insider Activity

In related news, CFO Alison S. Rand sold 3,000 shares of Primerica stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $202.26, for a total value of $606,780.00. Following the completion of the sale, the chief financial officer now owns 9,444 shares in the company, valued at $1,910,143.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Alison S. Rand sold 3,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $202.26, for a total transaction of $606,780.00. Following the transaction, the chief financial officer now owns 9,444 shares of the company’s stock, valued at $1,910,143.44. 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 3,500 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $201.43, for a total value of $705,005.00. Following the completion of the sale, the president now directly owns 9,524 shares of the company’s stock, valued at $1,918,419.32. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

About Primerica

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.