Vestcor Inc Has $1.39 Million Stock Holdings in Primerica, Inc. (NYSE:PRI)

Vestcor Inc lowered its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 18.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,109 shares of the financial services provider's stock after selling 1,172 shares during the period. Vestcor Inc's holdings in Primerica were worth $1,387,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PRI. Assetmark Inc. boosted its holdings in shares of Primerica by 11.8% in the third quarter. Assetmark Inc. now owns 1,461 shares of the financial services provider's stock worth $387,000 after buying an additional 154 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Primerica in the third quarter worth about $228,000. OneDigital Investment Advisors LLC boosted its holdings in shares of Primerica by 1.6% in the third quarter. OneDigital Investment Advisors LLC now owns 5,430 shares of the financial services provider's stock worth $1,440,000 after buying an additional 86 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Primerica by 3.5% in the third quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider's stock worth $279,000 after buying an additional 36 shares during the period. Finally, Quest Partners LLC boosted its holdings in shares of Primerica by 730.6% in the third quarter. Quest Partners LLC now owns 14,453 shares of the financial services provider's stock worth $3,832,000 after buying an additional 12,713 shares during the period. Institutional investors and hedge funds own 90.88% of the company's stock.

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Primerica Stock Performance

NYSE:PRI traded up $1.47 on Wednesday, hitting $289.24. 214,240 shares of the stock were exchanged, compared to its average volume of 144,828. The stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of 21.04 and a beta of 1.12. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The company's 50-day moving average price is $285.15 and its 200 day moving average price is $280.19.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly 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%. As a group, equities research analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

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

Insiders Place Their Bets

In related news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction on Wednesday, March 5th. The shares were 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 owns 200 shares in the company, valued at approximately $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 valued at $1,476,575 in the last quarter. 0.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on PRI. StockNews.com cut shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. TD Cowen raised their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Morgan Stanley decreased their price target on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. BMO Capital Markets started coverage on shares of Primerica in a report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price target for the company. Finally, Piper Sandler reduced their target price on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research note on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $309.86.

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.