Primerica, Inc. (NYSE:PRI) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 17.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,827 shares of the financial services provider's stock after acquiring an additional 10,907 shares during the period. Envestnet Asset Management Inc. owned about 0.21% of Primerica worth $17,229,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its stake in shares of Primerica by 2.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,405 shares of the financial services provider's stock valued at $1,935,000 after buying an additional 246 shares during the last quarter. Norges Bank acquired a new position in shares of Primerica in the 4th quarter valued at $31,194,000. Corient Private Wealth LLC boosted its holdings in Primerica by 12.4% during the fourth quarter. Corient Private Wealth LLC now owns 8,731 shares of the financial services provider's stock worth $1,796,000 after buying an additional 961 shares in the last quarter. Assetmark Inc. grew its position in Primerica by 30.9% during the fourth quarter. Assetmark Inc. now owns 882 shares of the financial services provider's stock valued at $181,000 after buying an additional 208 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Primerica by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 51,846 shares of the financial services provider's stock worth $10,668,000 after acquiring an additional 699 shares during the period. Institutional investors and hedge funds own 90.88% of the company's stock.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the transaction, the president now owns 10,259 shares of the company's stock, valued at approximately $2,678,727.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the transaction, the president now owns 10,259 shares of the company's stock, valued at approximately $2,678,727.49. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the firm's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now owns 45,322 shares of the company's stock, valued at $11,446,071.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,500 shares of company stock worth $1,657,015. Company insiders own 0.85% of the company's stock.

Analyst Ratings Changes

PRI has been the topic of a number of recent analyst reports. StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a research report on Thursday, September 12th. Jefferies Financial Group increased their price objective on shares of Primerica from $239.00 to $249.00 and gave the company a "hold" rating in a report on Thursday, July 18th. Truist Financial upped their price target on shares of Primerica from $275.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Piper Sandler initiated coverage on Primerica in a research note on Friday, August 30th. They set a "neutral" rating and a $283.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their target price on Primerica from $255.00 to $275.00 and gave the company a "market perform" rating in a report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $275.20.

Primerica Stock Performance

Shares of PRI stock traded down $1.44 on Tuesday, hitting $263.34. 104,888 shares of the stock traded hands, compared to its average volume of 160,368. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $265.67. The stock has a market capitalization of $9.06 billion, a PE ratio of 16.03 and a beta of 1.09. The firm's 50-day moving average price is $254.89 and its two-hundred day moving average price is $240.15.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The business had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. During the same quarter last year, the firm earned $3.99 EPS. The business's revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts anticipate that Primerica, Inc. will post 17.94 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from Primerica's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Wednesday, August 21st. Primerica's dividend payout ratio (DPR) is presently 21.91%.

Primerica 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.