Envestnet Asset Management Inc. Has $5.59 Million Stock Holdings in Primerica, Inc. (NYSE:PRI)

Envestnet Asset Management Inc. cut its stake in shares of Primerica, Inc. (NYSE:PRIGet Rating) by 12.3% during the second quarter, Holdings Channel reports. The firm owned 46,689 shares of the financial services provider’s stock after selling 6,544 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Primerica were worth $5,588,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Aigen Investment Management LP raised its position in shares of Primerica by 34.6% during the second quarter. Aigen Investment Management LP now owns 4,253 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 1,093 shares during the period. Treasurer of the State of North Carolina raised its position in Primerica by 12.0% during the second quarter. Treasurer of the State of North Carolina now owns 16,173 shares of the financial services provider’s stock valued at $1,936,000 after buying an additional 1,736 shares during the period. Xponance Inc. raised its position in Primerica by 5.5% during the second quarter. Xponance Inc. now owns 4,567 shares of the financial services provider’s stock valued at $547,000 after buying an additional 238 shares during the period. Castle Wealth Management LLC acquired a new position in Primerica during the second quarter valued at $38,000. Finally, US Bancorp DE raised its position in Primerica by 174.6% during the second quarter. US Bancorp DE now owns 5,445 shares of the financial services provider’s stock valued at $652,000 after buying an additional 3,462 shares during the period. 91.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 4,000 shares of the company’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $133.93, for a total transaction of $535,720.00. Following the completion of the sale, the chief executive officer now owns 58,215 shares in the company, valued at approximately $7,796,734.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Alison S. Rand sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $127.40, for a total transaction of $191,100.00. Following the completion of the sale, the chief financial officer now owns 12,433 shares in the company, valued at approximately $1,583,964.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Glenn J. Williams sold 4,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $133.93, for a total value of $535,720.00. Following the sale, the chief executive officer now owns 58,215 shares of the company’s stock, valued at approximately $7,796,734.95. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PRI has been the topic of several recent analyst reports. Morgan Stanley upped their price target on Primerica from $132.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 17th. William Blair lowered Primerica from an “outperform” rating to a “market perform” rating in a research report on Thursday. StockNews.com assumed coverage on Primerica in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Truist Financial boosted their target price on Primerica from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $161.00.

Primerica Price Performance

Shares of NYSE PRI opened at $139.44 on Friday. The business’s 50-day moving average price is $132.40 and its two-hundred day moving average price is $127.25. Primerica, Inc. has a one year low of $110.22 and a one year high of $163.64. The company has a market capitalization of $5.22 billion, a P/E ratio of 19.67 and a beta of 1.24.

Primerica (NYSE:PRIGet Rating) last issued its earnings results on Tuesday, November 8th. The financial services provider reported $3.02 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.08. The firm had revenue of $673.29 million for the quarter, compared to the consensus estimate of $675.99 million. Primerica had a return on equity of 22.04% and a net margin of 10.01%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.98 earnings per share. On average, equities analysts anticipate that Primerica, Inc. will post 11.14 EPS for the current year.

Primerica announced that its Board of Directors has authorized a stock repurchase plan on Thursday, August 11th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 22nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, November 21st. This represents a $2.20 annualized dividend and a dividend yield of 1.58%. Primerica’s dividend payout ratio (DPR) is presently 31.03%.

Primerica Company Profile

(Get Rating)

Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.

Further Reading

Want to see what other hedge funds are holding PRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primerica, Inc. (NYSE:PRIGet Rating).

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

Receive News & Ratings for Primerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primerica and related companies with MarketBeat.com's FREE daily email newsletter.