Vanguard Group Inc. Cuts Stock Position in Primerica, Inc. (NYSE:PRI)

Vanguard Group Inc. decreased its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,455,656 shares of the financial services provider's stock after selling 35,573 shares during the period. Vanguard Group Inc. owned about 10.36% of Primerica worth $937,934,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Primerica by 3.9% during the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider's stock worth $184,807,000 after purchasing an additional 25,951 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Primerica during the 4th quarter worth approximately $34,191,000. Los Angeles Capital Management LLC boosted its position in Primerica by 10.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider's stock valued at $32,573,000 after buying an additional 11,612 shares during the period. American Century Companies Inc. grew its stake in shares of Primerica by 10.2% in the fourth quarter. American Century Companies Inc. now owns 78,829 shares of the financial services provider's stock worth $21,396,000 after acquiring an additional 7,298 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Primerica by 3.7% in the fourth quarter. Sei Investments Co. now owns 75,632 shares of the financial services provider's stock worth $20,527,000 after acquiring an additional 2,706 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PRI. Piper Sandler decreased their target price on Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a report on Wednesday, December 18th. BMO Capital Markets assumed coverage on Primerica in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price target on the stock. StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Morgan Stanley reduced their target price on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Primerica presently has an average rating of "Hold" and an average target price of $309.86.

Insider Activity

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now directly owns 200 shares of the company's stock, valued at approximately $56,030. This trade represents a 53.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the sale, the president now directly owns 13,301 shares of the company's stock, valued at $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,234 shares of company stock valued at $1,476,575. Insiders own 0.85% of the company's stock.

Primerica Stock Up 1.3 %

Primerica stock traded up $3.74 during mid-day trading on Tuesday, hitting $288.27. The company had a trading volume of 294,275 shares, compared to its average volume of 165,460. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91. The business has a fifty day moving average of $286.11 and a 200 day moving average of $282.43. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 20.96 and a beta of 1.12.

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 net margin of 15.14% and a return on equity of 31.11%. Equities analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.44%. This is a boost from Primerica's previous quarterly dividend of $0.90. Primerica's payout ratio is 30.25%.

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.