Schroder Investment Management Group lifted its position in Primerica, Inc. (NYSE:PRI - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,155 shares of the financial services provider's stock after acquiring an additional 14,904 shares during the period. Schroder Investment Management Group owned 0.35% of Primerica worth $25,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in PRI. Trust Point Inc. acquired a new position in shares of Primerica during the 4th quarter worth about $339,000. Louisiana State Employees Retirement System acquired a new position in shares of Primerica during the 4th quarter worth about $2,016,000. Alps Advisors Inc. acquired a new stake in Primerica in the 3rd quarter valued at about $6,098,000. GPS Wealth Strategies Group LLC raised its holdings in 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 valued at $458,000 after acquiring an additional 452 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Primerica by 48.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 61,535 shares of the financial services provider's stock valued at $11,938,000 after acquiring an additional 20,137 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.
Primerica Stock Down 2.0 %
PRI stock traded down $4.51 during midday trading on Tuesday, hitting $220.89. The company's stock had a trading volume of 181,852 shares, compared to its average volume of 163,163. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $256.56. The firm has a market capitalization of $7.60 billion, a P/E ratio of 13.44 and a beta of 1.08. The firm has a 50-day simple moving average of $224.53 and a 200-day simple moving average of $227.46.
Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings data on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.12 by ($0.21). The firm had revenue of $742.83 million for the quarter, compared to analysts' expectations of $740.57 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. Primerica's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $3.49 earnings per share. On average, sell-side analysts expect that Primerica, Inc. will post 17.66 earnings per share for the current fiscal year.
Primerica Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.75 per share. The ex-dividend date is Monday, May 20th. This represents a $3.00 annualized dividend and a dividend yield of 1.36%. Primerica's dividend payout ratio (DPR) is currently 18.26%.
Analyst Upgrades and Downgrades
PRI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $255.00 to $260.00 and gave the company a "market perform" rating in a report on Wednesday, April 10th. Morgan Stanley raised their price target on shares of Primerica from $245.00 to $250.00 and gave the stock an "equal weight" rating in a report on Monday, April 15th. StockNews.com cut shares of Primerica from a "buy" rating to a "hold" rating in a research report on Tuesday, May 7th. Truist Financial increased their price objective on shares of Primerica from $260.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, February 15th. Finally, Raymond James cut shares of Primerica from a "strong-buy" rating to a "market perform" rating in a research report on Monday, February 12th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $245.50.
Check Out Our Latest Research Report on Primerica
Insider Transactions at Primerica
In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Friday, March 15th. The shares were sold at an average price of $243.41, for a total transaction of $365,115.00. Following the sale, the president now directly owns 13,259 shares in the company, valued at approximately $3,227,373.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Friday, March 15th. The shares were sold at an average price of $243.41, for a total transaction of $365,115.00. Following the sale, the president now directly owns 13,259 shares in the company, valued at approximately $3,227,373.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total transaction of $58,455.54. Following the sale, the insider now owns 100 shares in the company, valued at $24,981. The disclosure for this sale can be found here. In the last three months, insiders sold 3,234 shares of company stock valued at $764,731. Insiders own 0.85% of the company's stock.
Primerica Profile
(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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