Russell Investments Group Ltd. Sells 3,778 Shares of Primerica, Inc. (NYSE:PRI)

Russell Investments Group Ltd. trimmed its position in Primerica, Inc. (NYSE:PRI – Get Rating) by 13.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 24,599 shares of the financial services provider’s stock after selling 3,778 shares during the period. Russell Investments Group Ltd. owned about 0.07% of Primerica worth $3,489,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PRI. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Primerica in the 4th quarter valued at $28,000. Covestor Ltd lifted its stake in shares of Primerica by 74.7% in the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 109 shares during the period. FourThought Financial LLC lifted its stake in shares of Primerica by 36.0% in the 3rd quarter. FourThought Financial LLC now owns 487 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 129 shares during the period. Quantbot Technologies LP acquired a new stake in Primerica during the 2nd quarter worth $69,000. Finally, Mendota Financial Group LLC acquired a new stake in Primerica during the 4th quarter worth $87,000. 91.59% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Alison S. Rand sold 9,800 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $185.66, for a total value of $1,819,468.00. Following the completion of the transaction, the chief financial officer now owns 13,944 shares in the company, valued at approximately $2,588,843.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Alison S. Rand sold 9,800 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $185.66, for a total value of $1,819,468.00. Following the completion of the transaction, the chief financial officer now owns 13,944 shares in the company, valued at approximately $2,588,843.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Peter W. Schneider sold 2,809 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $185.60, for a total value of $521,350.40. Following the completion of the transaction, the president now owns 18,524 shares of the company’s stock, valued at approximately $3,438,054.40. The disclosure for this sale can be found here. Insiders sold 39,168 shares of company stock worth $7,238,391 in the last quarter. Corporate insiders own 0.87% of the company’s stock.

Primerica Price Performance

PRI opened at $186.72 on Friday. The business’s 50-day moving average price is $173.74 and its two-hundred day moving average price is $160.18. Primerica, Inc. has a 1 year low of $110.22 and a 1 year high of $195.69. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 16.85 and a beta of 1.18.

Primerica (NYSE:PRI – Get Rating) last released its quarterly earnings results on Monday, May 8th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.04. The firm had revenue of $690.04 million for the quarter, compared to the consensus estimate of $697.61 million. Primerica had a return on equity of 27.48% and a net margin of 15.33%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the business posted $2.11 EPS. Sell-side analysts anticipate that Primerica, Inc. will post 15.24 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Monday, May 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, May 19th. Primerica’s payout ratio is 23.47%.

Wall Street Analysts Forecast Growth

PRI has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on Primerica from $167.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 1st. Truist Financial raised their price objective on Primerica from $210.00 to $220.00 in a research note on Thursday, May 11th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Friday, May 12th. Raymond James initiated coverage on Primerica in a research note on Wednesday, April 12th. They set a “strong-buy” rating and a $244.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on Primerica from $150.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Friday, February 24th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Primerica has a consensus rating of “Moderate Buy” and a consensus target price of $205.25.

Primerica Profile

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Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, Senior Health, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.