Shelton Capital Management trimmed its position in shares of Primerica, Inc. (NYSE:PRI – Free Report) by 6.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,734 shares of the financial services provider’s stock after selling 128 shares during the quarter. Shelton Capital Management’s holdings in Primerica were worth $343,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Moneta Group Investment Advisors LLC acquired a new stake in Primerica during the 4th quarter valued at $210,472,000. Norges Bank acquired a new stake in shares of Primerica in the fourth quarter valued at $50,974,000. Victory Capital Management Inc. raised its holdings in shares of Primerica by 27.4% in the fourth quarter. Victory Capital Management Inc. now owns 811,888 shares of the financial services provider’s stock valued at $115,142,000 after buying an additional 174,822 shares during the last quarter. AGF Management Ltd. lifted its position in Primerica by 27.4% during the 1st quarter. AGF Management Ltd. now owns 573,631 shares of the financial services provider’s stock worth $98,802,000 after buying an additional 123,518 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in Primerica by 52.8% during the 1st quarter. Royal London Asset Management Ltd. now owns 232,091 shares of the financial services provider’s stock worth $31,748,000 after acquiring an additional 80,152 shares during the last quarter. Institutional investors and hedge funds own 90.56% of the company’s stock.
Insiders Place Their Bets
In other news, CFO Alison S. Rand sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $202.26, for a total value of $606,780.00. Following the sale, the chief financial officer now directly owns 9,444 shares in the company, valued at $1,910,143.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Alison S. Rand sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $202.26, for a total transaction of $606,780.00. Following the completion of the transaction, the chief financial officer now directly owns 9,444 shares of the company’s stock, valued at approximately $1,910,143.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Peter W. Schneider sold 3,500 shares of Primerica stock in a transaction on Monday, August 28th. The shares were sold at an average price of $201.43, for a total transaction of $705,005.00. Following the completion of the sale, the president now owns 9,524 shares in the company, valued at $1,918,419.32. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.
Primerica Stock Down 0.5 %
Primerica (NYSE:PRI – Get Free Report) last released its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.25. Primerica had a return on equity of 28.00% and a net margin of 19.94%. The business had revenue of $710.90 million for the quarter, compared to analysts’ expectations of $703.50 million. During the same quarter in the previous year, the business posted $3.02 EPS. Primerica’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, research analysts anticipate that Primerica, Inc. will post 16 EPS for the current fiscal year.
Primerica Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Monday, November 20th. Primerica’s payout ratio is presently 17.20%.
Wall Street Analysts Forecast Growth
PRI has been the topic of several research analyst reports. Truist Financial increased their price target on shares of Primerica from $240.00 to $260.00 in a research note on Wednesday, August 9th. Jefferies Financial Group lowered their price objective on Primerica from $198.00 to $197.00 and set a “hold” rating for the company in a research report on Thursday, September 14th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. Finally, Morgan Stanley lifted their price target on shares of Primerica from $190.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 15th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Primerica currently has a consensus rating of “Moderate Buy” and a consensus target price of $219.20.
Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.
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