Envestnet Asset Management Inc. Has $17.23 Million Stock Holdings in Primerica, Inc. (NYSE:PRI)

Envestnet Asset Management Inc. grew its holdings in Primerica, Inc. (NYSE:PRI) by 17.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,827 shares of the financial services provider’s stock after purchasing an additional 10,907 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Primerica were worth $17,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRI. Norges Bank acquired a new position in shares of Primerica in the 4th quarter valued at about $31,194,000. Los Angeles Capital Management LLC lifted its stake in shares of Primerica by 66.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock valued at $23,601,000 after purchasing an additional 39,761 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Primerica in the 2nd quarter valued at about $71,000. Schroder Investment Management Group lifted its stake in shares of Primerica by 13.6% in the 4th quarter. Schroder Investment Management Group now owns 124,155 shares of the financial services provider’s stock valued at $25,546,000 after purchasing an additional 14,904 shares during the period. Finally, Burgundy Asset Management Ltd. lifted its stake in shares of Primerica by 1.2% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,220,069 shares of the financial services provider’s stock valued at $308,629,000 after purchasing an additional 14,662 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PRI shares. Keefe, Bruyette & Woods upped their price target on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Morgan Stanley boosted their price objective on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Piper Sandler initiated coverage on Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective for the company. Jefferies Financial Group boosted their price objective on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Finally, Truist Financial boosted their price objective on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $275.20.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the transaction, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the sale, the director now owns 15,151 shares in the company, valued at $3,846,081.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the sale, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,500 shares of company stock valued at $1,657,015. Company insiders own 0.85% of the company’s stock.

Primerica Stock Up 2.4 %

PRI stock opened at $264.76 on Tuesday. The firm has a market cap of $9.11 billion, a PE ratio of 16.11 and a beta of 1.09. The business has a 50 day moving average of $254.65 and a 200-day moving average of $240.03. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $265.67.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.24. The company had revenue of $803.38 million during the quarter, compared to analyst estimates of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. Primerica’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.99 earnings per share. On average, research analysts expect that Primerica, Inc. will post 17.94 earnings per share for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.36%. This is a positive change from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Wednesday, August 21st. Primerica’s dividend payout ratio is 21.91%.

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.