Goldman Sachs Group Inc. Has $23.16 Million Holdings in Primerica, Inc. (NYSE:PRI)

Goldman Sachs Group Inc. grew its holdings in Primerica, Inc. (NYSE:PRI) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,572 shares of the financial services provider’s stock after buying an additional 5,326 shares during the period. Goldman Sachs Group Inc. owned 0.32% of Primerica worth $23,163,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. UBS Group AG boosted its position in Primerica by 5.7% during the third quarter. UBS Group AG now owns 10,656 shares of the financial services provider’s stock worth $2,067,000 after purchasing an additional 579 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in Primerica in the 3rd quarter valued at about $492,000. Envestnet Asset Management Inc. raised its holdings in Primerica by 48.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 61,535 shares of the financial services provider’s stock valued at $11,938,000 after acquiring an additional 20,137 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Primerica by 40.8% during the third quarter. Hsbc Holdings PLC now owns 1,476 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 428 shares during the period. Finally, Natixis Advisors L.P. grew its position in shares of Primerica by 0.3% in the third quarter. Natixis Advisors L.P. now owns 115,839 shares of the financial services provider’s stock valued at $22,474,000 after purchasing an additional 303 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on PRI shares. Morgan Stanley boosted their price target on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $245.50.

Primerica Stock Performance

PRI opened at $236.10 on Tuesday. The firm has a market cap of $8.12 billion, a P/E ratio of 14.37 and a beta of 1.08. The business’s fifty day moving average is $223.38 and its 200-day moving average is $228.74. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $256.56.

Primerica (NYSE:PRI) last posted 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). Primerica had a return on equity of 27.35% and a net margin of 20.44%. The firm had revenue of $742.83 million for the quarter, compared to analyst estimates of $740.57 million. During the same quarter in the prior year, the business posted $3.49 EPS. The business’s revenue was up 7.7% on a year-over-year basis. On average, research analysts predict that Primerica, Inc. will post 17.66 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.27%. Primerica’s dividend payout ratio (DPR) is currently 18.26%.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the transaction, the president now owns 11,759 shares in the company, valued at $2,674,466.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total value of $668,280.00. Following the completion of the transaction, the chief executive officer now directly owns 48,322 shares in the company, valued at approximately $10,764,208.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the sale, the president now owns 11,759 shares in the company, valued at approximately $2,674,466.96. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate 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.