Legal & General Group Plc Sells 14,193 Shares of Primerica, Inc. $PRI

Legal & General Group Plc decreased its position in shares of Primerica, Inc. (NYSE:PRI) by 22.3% in the fourth quarter, Holdings Channel reports. The fund owned 49,561 shares of the financial services provider’s stock after selling 14,193 shares during the period. Legal & General Group Plc’s holdings in Primerica were worth $12,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in shares of Primerica by 186.5% in the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 69 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Primerica in the 4th quarter valued at approximately $30,000. Torren Management LLC acquired a new stake in Primerica in the 4th quarter valued at approximately $50,000. Hantz Financial Services Inc. increased its position in Primerica by 620.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock worth $60,000 after buying an additional 186 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new position in Primerica in the 4th quarter worth approximately $67,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Trading Down 2.6%

Shares of NYSE:PRI opened at $259.76 on Wednesday. The firm has a market capitalization of $8.10 billion, a PE ratio of 10.89 and a beta of 0.88. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $288.03. The business’s 50 day moving average is $268.46 and its 200-day moving average is $262.03.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping the consensus estimate of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The firm had revenue of $872.30 million during the quarter, compared to analysts’ expectations of $855.36 million. During the same period last year, the business earned $5.02 earnings per share. Primerica’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts predict that Primerica, Inc. will post 24.45 EPS for the current year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 21st will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, May 21st. Primerica’s dividend payout ratio (DPR) is presently 20.13%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PRI shares. Morgan Stanley increased their price objective on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Finally, Zacks Research downgraded shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Primerica presently has an average rating of “Hold” and an average price target of $297.80.

Insider Activity at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the sale, the president directly owned 9,811 shares in the company, valued at approximately $2,743,548.04. The trade was a 15.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.63% of the company’s stock.

Primerica Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.