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

Federated Hermes Inc. lowered its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 41.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. 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.

Several other institutional investors also recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new stake in Primerica during the fourth quarter worth about $26,000. Arlington Trust Co LLC acquired a new stake in shares of Primerica during the 3rd quarter worth approximately $25,000. LWM Advisory Services LLC bought a new stake in shares of Primerica during the third quarter valued at approximately $26,000. Sound Income Strategies LLC raised its stake in shares of Primerica by 121.9% in the fourth quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 128 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in Primerica by 12.0% in the third quarter. IFP Advisors Inc now owns 617 shares of the financial services provider's stock worth $120,000 after purchasing an additional 66 shares during the period. 90.88% of the stock is owned by institutional investors.

Primerica Price Performance

Shares of PRI stock traded up $1.22 during trading hours on Monday, reaching $214.68. 210,819 shares of the company were exchanged, compared to its average volume of 161,311. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 13.52 and a beta of 1.06. The stock's fifty day moving average is $240.21 and its two-hundred day moving average is $223.00. Primerica, Inc. has a fifty-two week low of $173.00 and a fifty-two week high of $256.56.

Primerica (NYSE:PRI - Get Free Report) last released its earnings results 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). Primerica had a net margin of 20.37% and a return on equity of 27.83%. The firm had revenue of $726.34 million during the quarter, compared to analyst estimates of $723.64 million. During the same period last year, the business posted $3.49 earnings per share. The firm's quarterly revenue was up 5.7% on a year-over-year basis. On average, research analysts anticipate that Primerica, Inc. will post 17.78 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, February 20th. 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 yield of 1.40%. Primerica's dividend payout ratio is presently 18.89%.

Analysts Set New Price Targets

PRI has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of Primerica from $245.00 to $250.00 and gave the company an "equal weight" rating in a research note on Monday, April 15th. Raymond James cut Primerica from a "strong-buy" rating to a "market perform" rating in a report on Monday, February 12th. Keefe, Bruyette & Woods boosted their price target on Primerica from $255.00 to $260.00 and gave the company a "market perform" rating in a research note on Wednesday, April 10th. StockNews.com raised Primerica from a "hold" rating to a "buy" rating in a report on Thursday, March 7th. Finally, Truist Financial boosted their target price on shares of Primerica from $260.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $245.50.

Insider Transactions at Primerica

In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the transaction, the chief operating officer now directly owns 3,379 shares of the company's stock, valued at $829,307.97. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Gregory C. Pitts sold 3,759 shares of the company's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the sale, the chief operating officer now owns 3,379 shares in the company, valued at $829,307.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Jr. Addison sold 1,215 shares of the firm's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total value of $302,535.00. Following the transaction, the director now owns 16,467 shares in the company, valued at approximately $4,100,283. The disclosure for this sale can be found here. Insiders sold a total of 6,708 shares of company stock worth $1,648,677 in the last quarter. 0.61% of the stock is owned by company insiders.

Primerica 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.