Lyrical Asset Management LP Sells 14,774 Shares of Primerica, Inc. (NYSE:PRI)

Lyrical Asset Management LP trimmed its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 2.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 587,567 shares of the financial services provider's stock after selling 14,774 shares during the quarter. Primerica comprises about 2.4% of Lyrical Asset Management LP's holdings, making the stock its 20th biggest holding. Lyrical Asset Management LP owned 1.76% of Primerica worth $159,477,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dana Investment Advisors Inc. grew its position in Primerica by 1.2% in the 4th quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider's stock worth $1,012,000 after purchasing an additional 45 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Primerica by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider's stock worth $301,000 after acquiring an additional 54 shares during the period. Assetmark Inc. boosted its position in Primerica by 3.9% in the fourth quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider's stock worth $412,000 after purchasing an additional 57 shares during the last quarter. Everhart Financial Group Inc. grew its stake in shares of Primerica by 2.5% during the 4th quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider's stock valued at $726,000 after purchasing an additional 65 shares during the period. Finally, Allworth Financial LP increased its position in shares of Primerica by 27.3% during the 4th quarter. Allworth Financial LP now owns 331 shares of the financial services provider's stock valued at $97,000 after purchasing an additional 71 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Trading Up 0.2 %

PRI traded up $0.44 during trading on Friday, hitting $249.03. 68,358 shares of the company traded hands, compared to its average volume of 170,118. The company has a market cap of $8.24 billion, a PE ratio of 18.09 and a beta of 1.03. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $308.33. The stock's 50-day simple moving average is $280.18 and its two-hundred day simple moving average is $282.03.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts' consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Equities analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were given a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.67%. Primerica's dividend payout ratio (DPR) is currently 30.25%.

Analyst Ratings Changes

PRI has been the subject of several recent research reports. StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods cut their price objective on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Wednesday. BMO Capital Markets initiated coverage on Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 target price on the stock. Morgan Stanley cut their price target on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Finally, Piper Sandler lowered their price objective on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $309.14.

Insiders Place Their Bets

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was 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 in the company, valued at approximately $56,030. This represents a 53.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock valued at $1,476,575 over the last three months. 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.