Sei Investments Co. Buys 2,706 Shares of Primerica, Inc. (NYSE:PRI)

Sei Investments Co. grew its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,632 shares of the financial services provider's stock after buying an additional 2,706 shares during the quarter. Sei Investments Co. owned 0.23% of Primerica worth $20,527,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRI. Advisors Asset Management Inc. raised its holdings in shares of Primerica by 187.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 643 shares of the financial services provider's stock valued at $170,000 after purchasing an additional 419 shares during the period. Great Valley Advisor Group Inc. bought a new position in shares of Primerica during the third quarter worth approximately $398,000. Cerity Partners LLC acquired a new stake in Primerica during the 3rd quarter worth approximately $983,000. Larson Financial Group LLC boosted its stake in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 54 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Primerica by 4.6% in the third quarter. Bank of Montreal Can now owns 34,685 shares of the financial services provider's stock valued at $9,128,000 after acquiring an additional 1,536 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Primerica Stock Down 2.3 %

Primerica stock traded down $6.58 during trading hours on Friday, reaching $283.34. 148,100 shares of the company's stock were exchanged, compared to its average volume of 164,088. The firm's 50 day simple moving average is $286.37 and its 200 day simple moving average is $281.75. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $307.91. The firm has a market capitalization of $9.42 billion, a PE ratio of 20.61 and a beta of 1.12.

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

Primerica Increases Dividend

The business also recently disclosed 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. This is a positive change from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, February 21st. Primerica's payout ratio is currently 30.25%.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now directly owns 200 shares in the company, valued at $56,030. This trade represents a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock worth $1,476,575 over the last quarter. Insiders own 0.85% of the company's stock.

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.