Marks Group Wealth Management Inc Has $7.45 Million Holdings in Primerica, Inc. (NYSE:PRI)

Marks Group Wealth Management Inc lowered its holdings in shares of Primerica, Inc. (NYSE:PRI) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,219 shares of the financial services provider’s stock after selling 967 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Primerica were worth $7,452,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PRI. Invesco Ltd. lifted its stake in Primerica by 110.6% in the third quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock valued at $87,200,000 after buying an additional 236,051 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Primerica by 86.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock worth $23,010,000 after acquiring an additional 55,076 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Primerica by 378.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 50,445 shares of the financial services provider’s stock valued at $9,787,000 after acquiring an additional 39,905 shares in the last quarter. Alps Advisors Inc. acquired a new position in Primerica in the 3rd quarter worth $6,098,000. Finally, Los Angeles Capital Management LLC increased its holdings in Primerica by 44.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 84,938 shares of the financial services provider’s stock worth $16,479,000 after purchasing an additional 25,981 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

NYSE PRI traded up $2.40 on Monday, hitting $217.44. 223,113 shares of the stock were exchanged, compared to its average volume of 158,964. The company has a market capitalization of $7.55 billion, a PE ratio of 13.69 and a beta of 1.06. The business’s fifty day moving average is $242.72 and its 200 day moving average is $222.41. Primerica, Inc. has a 52 week low of $173.00 and a 52 week high of $256.56.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $723.64 million. During the same period in the previous year, the company posted $3.49 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts predict that Primerica, Inc. will post 17.78 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. This is a boost from Primerica’s previous quarterly dividend of $0.65. The ex-dividend date was Tuesday, February 20th. Primerica’s dividend payout ratio (DPR) is presently 18.89%.

Insider Buying and Selling

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total transaction of $58,455.54. Following the completion of the sale, the insider now owns 100 shares of the company’s stock, valued at approximately $24,981. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total value of $58,455.54. Following the transaction, the insider now owns 100 shares in the company, valued at approximately $24,981. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the sale, the chief operating officer now owns 3,379 shares of the company’s stock, valued at $829,307.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,708 shares of company stock valued at $1,648,677. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PRI shares. Keefe, Bruyette & Woods upped their price objective on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Truist Financial lifted their price objective on shares of Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Morgan Stanley raised their target price on shares of Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Raymond James downgraded shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Finally, StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $245.50.

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.