Federated Hermes Inc. Sells 8,057 Shares of Primerica, Inc. (NYSE:PRI)

Federated Hermes Inc. lowered its position in shares of Primerica, Inc. (NYSE:PRI) by 41.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 11,327 shares of the financial services provider’s stock after selling 8,057 shares during the quarter. Federated Hermes Inc.’s holdings in Primerica were worth $2,331,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PRI. Invesco Ltd. boosted its position in 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 last quarter. Fuller & Thaler Asset Management Inc. boosted its position in 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 acquiring an additional 55,076 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted 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 acquiring an additional 39,905 shares during the last quarter. Alps Advisors Inc. bought a new stake in Primerica during the third quarter valued at $6,098,000. Finally, Los Angeles Capital Management LLC boosted its position in Primerica by 44.1% during the third quarter. Los Angeles Capital Management LLC now owns 84,938 shares of the financial services provider’s stock valued at $16,479,000 after acquiring an additional 25,981 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the sale, the chief operating officer now owns 3,379 shares in the company, valued at approximately $829,307.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the sale, the chief operating officer now owns 3,379 shares in the company, valued at approximately $829,307.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total transaction of $58,455.54. Following the sale, the insider now owns 100 shares in the company, valued at approximately $24,981. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,708 shares of company stock worth $1,648,677. 0.85% of the stock is currently owned by corporate insiders.

Primerica Price Performance

PRI opened at $213.46 on Monday. Primerica, Inc. has a fifty-two week low of $173.00 and a fifty-two week high of $256.56. The firm has a market capitalization of $7.41 billion, a PE ratio of 13.44 and a beta of 1.06. The company’s 50-day moving average is $240.84 and its 200 day moving average is $222.93.

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

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.75 per share. This is an increase from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Tuesday, February 20th. Primerica’s dividend payout ratio is currently 18.89%.

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.