Primerica, Inc. $PRI Shares Sold by MGO One Seven LLC

MGO One Seven LLC cut its stake in shares of Primerica, Inc. (NYSE:PRI) by 24.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,404 shares of the financial services provider’s stock after selling 785 shares during the quarter. MGO One Seven LLC’s holdings in Primerica were worth $658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Primerica by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider’s stock worth $994,048,000 after buying an additional 37,994 shares in the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of Primerica by 1.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,310,019 shares of the financial services provider’s stock worth $372,740,000 after buying an additional 21,546 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Primerica by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 611,437 shares of the financial services provider’s stock worth $173,963,000 after buying an additional 16,350 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Primerica in the 1st quarter worth about $156,019,000. Finally, Fiduciary Management Inc. WI boosted its position in shares of Primerica by 2.8% in the 1st quarter. Fiduciary Management Inc. WI now owns 490,923 shares of the financial services provider’s stock worth $139,682,000 after buying an additional 13,402 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PRI shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Primerica in a research report on Wednesday, October 8th. BMO Capital Markets upgraded shares of Primerica from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $292.00 to $318.00 in a research report on Tuesday, September 23rd. Morgan Stanley decreased their price target on shares of Primerica from $308.00 to $306.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Monday, August 11th. Finally, Piper Sandler set a $292.00 price target on shares of Primerica and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.86.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at $9,541,982.40. This represents a 6.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by insiders.

Primerica Price Performance

Primerica stock opened at $264.04 on Friday. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The stock has a market capitalization of $8.55 billion, a P/E ratio of 13.05 and a beta of 0.97. The firm’s 50-day moving average is $270.23 and its two-hundred day moving average is $266.68.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.28. The business had revenue of $796.02 million for the quarter, compared to analyst estimates of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm posted $4.71 EPS. As a group, analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 22nd were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, August 22nd. Primerica’s dividend payout ratio is presently 20.55%.

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.