Russell Investments Group Ltd. increased its stake in Primerica, Inc. (NYSE:PRI – Get Rating) by 40.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,156 shares of the financial services provider’s stock after purchasing an additional 8,633 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Primerica worth $4,127,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRI. Geode Capital Management LLC boosted its stake in Primerica by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 683,815 shares of the financial services provider’s stock worth $104,808,000 after purchasing an additional 55,776 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Primerica by 13.2% during the 4th quarter. Victory Capital Management Inc. now owns 347,547 shares of the financial services provider’s stock worth $53,268,000 after buying an additional 40,622 shares during the last quarter. Academy Capital Management Inc. TX boosted its stake in shares of Primerica by 46.0% during the 4th quarter. Academy Capital Management Inc. TX now owns 111,966 shares of the financial services provider’s stock worth $17,161,000 after buying an additional 35,258 shares during the last quarter. Brave Warrior Advisors LLC boosted its stake in shares of Primerica by 1.5% during the 4th quarter. Brave Warrior Advisors LLC now owns 1,929,120 shares of the financial services provider’s stock worth $295,676,000 after buying an additional 27,591 shares during the last quarter. Finally, Eaton Vance Management boosted its stake in shares of Primerica by 293.8% during the 4th quarter. Eaton Vance Management now owns 34,883 shares of the financial services provider’s stock worth $5,288,000 after buying an additional 26,026 shares during the last quarter. 90.90% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Primerica
In other Primerica news, CEO Glenn J. Williams sold 4,000 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $119.32, for a total transaction of $477,280.00. Following the transaction, the chief executive officer now owns 62,215 shares in the company, valued at approximately $7,423,493.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.85% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Truist Financial increased their price objective on shares of Primerica from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley dropped their target price on shares of Primerica from $148.00 to $132.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Primerica has a consensus rating of “Hold” and an average target price of $160.40.
Primerica Stock Performance
Shares of PRI stock opened at $133.82 on Friday. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 15.67 and a beta of 1.29. Primerica, Inc. has a 52-week low of $110.22 and a 52-week high of $179.51. The firm’s 50-day moving average is $122.23 and its 200-day moving average is $129.62.
Primerica (NYSE:PRI – Get Rating) last released its quarterly earnings results on Monday, August 8th. The financial services provider reported $2.86 earnings per share for the quarter, missing the consensus estimate of $3.04 by ($0.18). The company had revenue of $668.68 million during the quarter, compared to the consensus estimate of $707.24 million. Primerica had a net margin of 12.12% and a return on equity of 21.81%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.25 earnings per share. Sell-side analysts predict that Primerica, Inc. will post 11.56 EPS for the current fiscal year.
Primerica Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 14th. Shareholders of record on Monday, August 22nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, August 19th. This represents a $2.20 annualized dividend and a yield of 1.64%. Primerica’s dividend payout ratio is currently 25.76%.
Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.
Receive News & Ratings for Primerica Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Primerica and related companies with MarketBeat.com’s FREE daily email newsletter.