Russell Investments Group Ltd. Sells 6,143 Shares of Primerica, Inc. (NYSE:PRI)

Russell Investments Group Ltd. lessened its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 25.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,169 shares of the financial services provider's stock after selling 6,143 shares during the quarter. Russell Investments Group Ltd. owned 0.05% of Primerica worth $4,931,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRI. Envestnet Asset Management Inc. increased its stake in shares of Primerica by 6.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 104,945 shares of the financial services provider's stock worth $28,484,000 after acquiring an additional 5,938 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Primerica during the 4th quarter worth about $1,246,000. ExodusPoint Capital Management LP lifted its holdings in shares of Primerica by 51.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 17,583 shares of the financial services provider's stock valued at $4,772,000 after buying an additional 5,961 shares during the last quarter. World Investment Advisors bought a new stake in shares of Primerica in the 4th quarter valued at approximately $1,343,000. Finally, Bryce Point Capital LLC acquired a new position in Primerica in the fourth quarter worth approximately $518,000. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 2,000 shares of the business's stock in a transaction that occurred on 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 transaction, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on PRI. Keefe, Bruyette & Woods reduced their target price on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. StockNews.com cut shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Morgan Stanley cut their target price on Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Finally, BMO Capital Markets began coverage on Primerica in a report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $309.14.

Primerica Stock Down 0.4 %

PRI stock traded down $1.06 during midday trading on Friday, reaching $254.05. The stock had a trading volume of 105,764 shares, compared to its average volume of 160,559. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 18.48 and a beta of 1.03. Primerica, Inc. has a twelve month low of $210.94 and a twelve month high of $307.91. The business has a fifty day simple moving average of $275.50 and a two-hundred day simple moving average of $281.50.

Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping 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%. On average, equities analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued 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 yield of 1.64%. This is a boost from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio (DPR) is 30.25%.

About Primerica

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.