Sei Investments Co. Raises Position in Primerica, Inc. (NYSE:PRI)

Sei Investments Co. raised its holdings in shares of Primerica, Inc. (NYSE:PRI) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 75,632 shares of the financial services provider’s stock after acquiring an additional 2,706 shares during the period. Sei Investments Co.’s holdings in Primerica were worth $20,527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRI. Advisors Asset Management Inc. grew its position in Primerica by 187.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 643 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 419 shares during the last quarter. Great Valley Advisor Group Inc. purchased a new stake in shares of Primerica during the third quarter valued at approximately $398,000. Cerity Partners LLC bought a new position in shares of Primerica in the third quarter worth approximately $983,000. Larson Financial Group LLC grew its holdings in shares of Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Primerica by 4.6% in the third quarter. Bank of Montreal Can now owns 34,685 shares of the financial services provider’s stock worth $9,128,000 after buying an additional 1,536 shares during the period. 90.88% of the stock is owned by institutional investors.

Primerica Stock Performance

Shares of NYSE:PRI opened at $290.53 on Thursday. The firm has a market capitalization of $9.66 billion, a P/E ratio of 21.13 and a beta of 1.12. The stock has a 50 day moving average price of $286.52 and a 200-day moving average price of $281.29. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were given a dividend of $1.04 per share. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, February 21st. Primerica’s dividend payout ratio (DPR) is 30.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PRI shares. Morgan Stanley cut their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Piper Sandler cut their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods upped their price target on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, BMO Capital Markets initiated coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target for the company. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $309.86.

Insider Buying and Selling

In related news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares of the company’s stock, valued at $56,030. This trade represents a 53.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock valued at $1,476,575 over the last quarter. Corporate insiders own 0.85% of the company’s stock.

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.