Primerica, Inc. (NYSE:PRI) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of Primerica, Inc. (NYSE:PRI) by 58.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,090 shares of the financial services provider’s stock after selling 7,043 shares during the period. PNC Financial Services Group Inc.’s holdings in Primerica were worth $385,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PRI. World Asset Management Inc raised its holdings in shares of Primerica by 0.6% in the 2nd quarter. World Asset Management Inc now owns 2,856 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 18 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Primerica by 1.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,669 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 69 shares during the period. Amalgamated Bank raised its holdings in shares of Primerica by 1.8% in the 2nd quarter. Amalgamated Bank now owns 6,552 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 113 shares during the period. Texas Permanent School Fund raised its holdings in shares of Primerica by 0.4% in the 2nd quarter. Texas Permanent School Fund now owns 33,221 shares of the financial services provider’s stock worth $2,516,000 after purchasing an additional 133 shares during the period. Finally, Capstone Asset Management Co. grew its stake in Primerica by 3.6% in the 2nd quarter. Capstone Asset Management Co. now owns 5,803 shares of the financial services provider’s stock valued at $440,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 94.71% of the company’s stock.

In related news, President Peter W. Schneider sold 1,301 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $76.92, for a total value of $100,072.92. Following the completion of the sale, the president now owns 28,138 shares of the company’s stock, valued at $2,164,374.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $80.68, for a total transaction of $242,040.00. Following the completion of the sale, the chief executive officer now directly owns 77,895 shares of the company’s stock, valued at approximately $6,284,568.60. The disclosure for this sale can be found here. Insiders sold 6,301 shares of company stock valued at $495,113 over the last quarter. Company insiders own 0.86% of the company’s stock.

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Primerica, Inc. (PRI) opened at 88.85 on Friday. The company has a 50-day moving average of $81.36 and a 200 day moving average of $79.12. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 18.10 and a beta of 1.17. Primerica, Inc. has a 12 month low of $52.75 and a 12 month high of $89.60.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. The business had revenue of $413.70 million during the quarter, compared to analysts’ expectations of $410.97 million. Primerica had a net margin of 14.41% and a return on equity of 18.48%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. On average, equities research analysts anticipate that Primerica, Inc. will post $5.22 earnings per share for the current fiscal year.

A number of research firms recently weighed in on PRI. BidaskClub upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Wells Fargo & Company reiterated a “hold” rating on shares of Primerica in a research note on Tuesday, August 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $87.00 price objective on shares of Primerica in a research note on Monday, October 16th. SunTrust Banks, Inc. lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Primerica from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Primerica currently has a consensus rating of “Hold” and an average price target of $88.50.

About Primerica

Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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