Primerica, Inc. (NYSE:PRI) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc cut its stake in shares of Primerica, Inc. (NYSE:PRI) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,219 shares of the financial services provider’s stock after selling 967 shares during the period. Marks Group Wealth Management Inc owned approximately 0.10% of Primerica worth $7,452,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Invesco Ltd. raised its holdings in shares of Primerica by 110.6% during the third quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock valued at $87,200,000 after acquiring an additional 236,051 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Primerica by 86.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock valued at $23,010,000 after buying an additional 55,076 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Primerica by 378.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 50,445 shares of the financial services provider’s stock valued at $9,787,000 after buying an additional 39,905 shares during the period. Alps Advisors Inc. purchased a new stake in Primerica in the 3rd quarter worth about $6,098,000. Finally, Los Angeles Capital Management LLC lifted its stake in Primerica by 44.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 84,938 shares of the financial services provider’s stock worth $16,479,000 after acquiring an additional 25,981 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRI has been the subject of a number of research analyst reports. Raymond James lowered shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Keefe, Bruyette & Woods increased their price objective on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Truist Financial lifted their price objective on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Morgan Stanley boosted their price target on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $245.50.

Primerica Trading Up 1.1 %

NYSE PRI traded up $2.40 during trading on Monday, hitting $217.44. 223,113 shares of the company traded hands, compared to its average volume of 158,964. Primerica, Inc. has a 12 month low of $173.00 and a 12 month high of $256.56. The business has a fifty day simple moving average of $242.72 and a 200 day simple moving average of $222.41. The company has a market capitalization of $7.55 billion, a P/E ratio of 13.69 and a beta of 1.06.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.27 by ($0.02). Primerica had a net margin of 20.37% and a return on equity of 27.83%. The company had revenue of $726.34 million for the quarter, compared to analyst estimates of $723.64 million. During the same period in the prior year, the company posted $3.49 EPS. The business’s revenue was up 5.7% on a year-over-year basis. Equities research analysts predict that Primerica, Inc. will post 17.78 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. This is a boost from Primerica’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, February 20th. Primerica’s payout ratio is presently 18.89%.

Insider Buying and Selling

In related news, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction on Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the transaction, the chief operating officer now owns 3,379 shares in the company, valued at approximately $829,307.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the transaction, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at approximately $829,307.97. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John A. Jr. Addison sold 1,215 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total value of $302,535.00. Following the completion of the sale, the director now directly owns 16,467 shares of the company’s stock, valued at $4,100,283. The disclosure for this sale can be found here. In the last three months, insiders sold 6,708 shares of company stock valued at $1,648,677. Company insiders own 0.61% of the company’s stock.

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.