Primerica, Inc. (NYSE:PRI) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its position in Primerica, Inc. (NYSE:PRI) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,455,656 shares of the financial services provider’s stock after selling 35,573 shares during the quarter. Vanguard Group Inc. owned 10.36% of Primerica worth $937,934,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PRI. Geode Capital Management LLC raised its holdings in shares of Primerica by 3.9% during the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after purchasing an additional 25,951 shares during the period. Barclays PLC raised its stake in Primerica by 108.1% during the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock worth $5,428,000 after acquiring an additional 10,635 shares during the period. Sylvest Advisors LLC bought a new position in Primerica in the fourth quarter worth about $543,000. Oak Thistle LLC boosted its stake in Primerica by 64.9% in the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock valued at $1,340,000 after acquiring an additional 1,943 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Primerica by 10.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock valued at $32,573,000 after purchasing an additional 11,612 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Stock Down 2.3 %

PRI stock opened at $283.34 on Friday. The company has a market capitalization of $9.42 billion, a P/E ratio of 20.61 and a beta of 1.12. The company has a 50-day simple moving average of $286.37 and a 200 day simple moving average of $281.55. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $307.91.

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

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a dividend of $1.04 per share. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Friday, February 21st. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Analyst Ratings Changes

Several brokerages recently issued reports on PRI. Morgan Stanley cut their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Piper Sandler lowered their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus price target of $309.86.

Insider Activity

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $56,030. This represents a 53.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. This represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is owned by company insiders.

Primerica Company 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.