Logan Capital Management Inc. decreased its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 12.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 45,136 shares of the financial services provider's stock after selling 6,584 shares during the period. Logan Capital Management Inc. owned 0.13% of Primerica worth $9,287,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the business. Trust Point Inc. purchased a new position in Primerica during the fourth quarter valued at approximately $339,000. Louisiana State Employees Retirement System bought a new stake in Primerica during the 4th quarter valued at $2,016,000. Alps Advisors Inc. purchased a new position in shares of Primerica in the 3rd quarter valued at $6,098,000. GPS Wealth Strategies Group LLC raised its position in shares of Primerica by 25.5% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 2,226 shares of the financial services provider's stock worth $458,000 after acquiring an additional 452 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Primerica by 48.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 61,535 shares of the financial services provider's stock worth $11,938,000 after purchasing an additional 20,137 shares during the last quarter. Institutional investors own 90.88% of the company's stock.
Primerica Stock Performance
PRI stock traded down $0.92 during trading on Friday, reaching $226.39. The company had a trading volume of 104,456 shares, compared to its average volume of 146,488. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $256.56. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 13.78 and a beta of 1.08. The firm has a 50-day simple moving average of $225.62 and a 200-day simple moving average of $227.29.
Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing the consensus estimate of $4.12 by ($0.21). Primerica had a net margin of 20.44% and a return on equity of 27.35%. The firm had revenue of $742.83 million for the quarter, compared to analysts' expectations of $740.57 million. During the same quarter in the previous year, the firm posted $3.49 EPS. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts expect that Primerica, Inc. will post 17.66 earnings per share for the current year.
Primerica Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Monday, May 20th. Primerica's payout ratio is presently 18.26%.
Analysts Set New Price Targets
A number of equities analysts have commented on PRI shares. Truist Financial boosted their target price on shares of Primerica from $260.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, February 15th. Morgan Stanley boosted their price objective on shares of Primerica from $245.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Monday, April 15th. Raymond James downgraded shares of Primerica from a "strong-buy" rating to a "market perform" rating in a research note on Monday, February 12th. StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a research report on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods increased their price objective on Primerica from $255.00 to $260.00 and gave the company a "market perform" rating in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $245.50.
Read Our Latest Stock Report on Primerica
Insiders Place Their Bets
In related news, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the transaction, the chief operating officer now owns 3,379 shares in the company, valued at approximately $829,307.97. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, President Peter W. Schneider sold 1,500 shares of the company's stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $227.44, for a total transaction of $341,160.00. Following the completion of the transaction, the president now owns 11,759 shares in the company, valued at approximately $2,674,466.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the sale, the chief operating officer now owns 3,379 shares in the company, valued at $829,307.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,993 shares of company stock worth $1,687,302. Corporate insiders own 0.85% of the company's stock.
About Primerica
(Free Report)
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.
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