Primerica (NYSE:PRI) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Primerica (NYSE:PRI) from a buy rating to a hold rating in a research report sent to investors on Saturday morning, Zacks.com reports.

According to Zacks, “Primerica, Inc. provides financial products and services. It assists its clients in meeting their needs for term life insurance, which it underwrites, and mutual funds, variable annuities and other financial products, which it distributes primarily on behalf of third parties. The Company’s mission is to serve middle income families by helping them make informed financial decisions and providing them with a strategy and means to gain financial independence. The Company’s sales representatives use its proprietary financial needs analysis, or FNA, tool and an educational approach to demonstrate how its products can assist clients to provide financial protection for their families, save for their retirement and manage their debt. The Company’s clients are generally middle income consumers. Primerica also provides an entrepreneurial business opportunity for individuals to distribute its financial products. The Company is based in Duluth, Georgia. “

Separately, upped their target price on shares of Primerica from $140.00 to $144.00 and gave the company a sell rating in a research report on Monday, June 21st.

Primerica stock opened at $147.71 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.06. Primerica has a 1 year low of $107.63 and a 1 year high of $165.35. The company has a market cap of $5.83 billion, a PE ratio of 13.42 and a beta of 1.48. The company’s 50-day moving average is $148.47 and its two-hundred day moving average is $152.81.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 14th. Stockholders of record on Friday, August 20th were paid a $0.47 dividend. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.27%. Primerica’s dividend payout ratio (DPR) is presently 19.38%.

In related news, CFO Alison S. Rand sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $152.20, for a total transaction of $228,300.00. Following the completion of the sale, the chief financial officer now directly owns 13,347 shares of the company’s stock, valued at approximately $2,031,413.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Peter W. Schneider sold 3,500 shares of the stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $152.54, for a total value of $533,890.00. Following the sale, the president now directly owns 22,672 shares of the company’s stock, valued at $3,458,386.88. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. grew its stake in shares of Primerica by 46.7% during the 1st quarter. Meeder Asset Management Inc. now owns 220 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 70 shares in the last quarter. Aurora Investment Counsel grew its stake in shares of Primerica by 0.9% during the 1st quarter. Aurora Investment Counsel now owns 8,897 shares of the financial services provider’s stock worth $1,315,000 after acquiring an additional 82 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Primerica by 1.3% during the 2nd quarter. ProShare Advisors LLC now owns 6,367 shares of the financial services provider’s stock worth $975,000 after acquiring an additional 82 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Primerica by 3.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,526 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 88 shares in the last quarter. Finally, GWM Advisors LLC grew its stake in shares of Primerica by 1.0% during the 2nd quarter. GWM Advisors LLC now owns 15,005 shares of the financial services provider’s stock worth $2,298,000 after acquiring an additional 144 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

About Primerica

Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.

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