Victory Capital Management Inc. Decreases Stock Position in Primerica, Inc. (NYSE:PRI)

Victory Capital Management Inc. lessened its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 52.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 184,699 shares of the financial services provider's stock after selling 203,492 shares during the period. Victory Capital Management Inc. owned 0.53% of Primerica worth $38,004,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. LWM Advisory Services LLC bought a new position in Primerica in the third quarter valued at about $26,000. ORG Partners LLC bought a new position in Primerica in the fourth quarter valued at about $26,000. Sound Income Strategies LLC boosted its holdings in 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 acquiring an additional 128 shares during the last quarter. Assetmark Inc. boosted its holdings in Primerica by 14.2% during the third quarter. Assetmark Inc. now owns 674 shares of the financial services provider's stock worth $131,000 after buying an additional 84 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in Primerica during the fourth quarter worth about $133,000. Institutional investors own 90.88% of the company's stock.

Insider Buying and Selling at Primerica

In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction on 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 transaction, the chief operating officer now directly owns 3,379 shares of the company's stock, valued at approximately $829,307.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Primerica 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 transaction, the chief operating officer now owns 3,379 shares of the company's stock, valued at approximately $829,307.97. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John A. Jr. Addison sold 1,215 shares of the company'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 completion of the transaction, the director now directly owns 16,467 shares of the company's stock, valued at approximately $4,100,283. The disclosure for this sale can be found here. Insiders sold 6,708 shares of company stock valued at $1,648,677 in the last three months. Corporate insiders own 0.61% of the company's stock.

Primerica Stock Performance

Primerica stock traded down $3.21 during midday trading on Tuesday, reaching $219.34. The stock had a trading volume of 410,944 shares, compared to its average volume of 165,972. The firm's fifty day simple moving average is $237.10 and its 200-day simple moving average is $223.33. The stock has a market capitalization of $7.61 billion, a P/E ratio of 13.47 and a beta of 1.10. Primerica, Inc. has a 1-year low of $176.81 and a 1-year high of $256.56.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.12 by ($0.21). The firm had revenue of $742.83 million during the quarter, compared to the consensus estimate of $740.57 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.49 earnings per share. On average, sell-side analysts anticipate that Primerica, Inc. will post 17.78 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $3.00 annualized dividend and a yield of 1.37%. Primerica's dividend payout ratio is presently 18.89%.

Wall Street Analysts Forecast Growth

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

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.