Legal & General Group Plc Sells 4,544 Shares of Primerica, Inc. (NYSE:PRI)

Legal & General Group Plc decreased its position in Primerica, Inc. (NYSE:PRI - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,443 shares of the financial services provider's stock after selling 4,544 shares during the period. Legal & General Group Plc owned about 0.20% of Primerica worth $18,034,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PRI. Cerity Partners LLC raised its stake in shares of Primerica by 15.2% in the fourth quarter. Cerity Partners LLC now owns 4,274 shares of the financial services provider's stock valued at $1,139,000 after purchasing an additional 565 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Primerica by 13.2% in the 4th quarter. Federated Hermes Inc. now owns 3,779 shares of the financial services provider's stock valued at $1,026,000 after buying an additional 440 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Primerica during the 4th quarter worth about $99,000. Gator Capital Management LLC bought a new position in shares of Primerica during the 4th quarter worth about $214,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Primerica by 6.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 104,945 shares of the financial services provider's stock valued at $28,484,000 after acquiring an additional 5,938 shares in the last quarter. Institutional investors own 90.88% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PRI. StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods cut their target price on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. BMO Capital Markets assumed coverage on Primerica in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price target on the stock. Finally, Morgan Stanley reduced their target price on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $309.14.

Primerica Trading Down 0.4 %

Shares of PRI traded down $1.06 during mid-day trading on Friday, hitting $254.05. 105,764 shares of the company traded hands, compared to its average volume of 160,559. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 18.48 and a beta of 1.03. The business has a 50-day moving average of $275.50 and a 200 day moving average of $281.50. Primerica, Inc. has a one year low of $210.94 and a one year high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 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%. As a group, analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were given a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.64%. This is a boost from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio is currently 30.25%.

Insider Buying and Selling

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction dated 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 in the company, valued at approximately $56,030. This represents a 53.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were 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 owns 33,322 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is owned by company insiders.

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.