Man Group plc Has $19.85 Million Stock Holdings in Primerica, Inc. (NYSE:PRI)

Man Group plc raised its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,122 shares of the financial services provider's stock after purchasing an additional 6,000 shares during the quarter. Man Group plc owned approximately 0.22% of Primerica worth $19,847,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PRI. Colonial Trust Co SC bought a new stake in shares of Primerica in the 4th quarter valued at about $25,000. Golden State Wealth Management LLC acquired a new position in Primerica during the fourth quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its stake in Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock valued at $34,000 after buying an additional 71 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock valued at $58,000 after buying an additional 115 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Primerica by 65.5% in the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider's stock valued at $65,000 after buying an additional 95 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction 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 sale, the insider now directly owns 200 shares of the company's stock, valued at approximately $56,030. This represents a 53.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the transaction, the president now owns 13,301 shares in the company, valued at $3,762,852.90. The trade was a 13.07% decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Primerica Trading Down 0.8%

PRI stock traded down $2.18 during trading hours on Thursday, hitting $268.86. 32,737 shares of the stock were exchanged, compared to its average volume of 157,006. Primerica, Inc. has a 12 month low of $219.52 and a 12 month high of $307.91. The firm has a market capitalization of $8.90 billion, a P/E ratio of 19.56 and a beta of 1.02. The company has a 50-day simple moving average of $268.95 and a two-hundred day simple moving average of $280.04.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 EPS for the quarter, topping analysts' consensus estimates of $4.77 by $0.25. The business had revenue of $803.56 million for the quarter, compared to analyst estimates of $783.54 million. Primerica had a net margin of 15.14% and a return on equity of 31.11%. Primerica's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $3.91 earnings per share. On average, equities research analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.55%. Primerica's payout ratio is 27.98%.

Wall Street Analysts Forecast Growth

PRI has been the topic of a number of recent analyst reports. BMO Capital Markets initiated coverage on Primerica in a report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 target price on the stock. Wall Street Zen downgraded shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods cut their target price on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley lifted their target price on shares of Primerica from $274.00 to $296.00 and gave the stock an "equal weight" rating in a report on Monday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $308.00.

Primerica Company Profile

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.