Envestnet Portfolio Solutions Inc. Sells 532 Shares of Primerica, Inc. (NYSE:PRI)

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Primerica, Inc. (NYSE:PRI) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,286 shares of the financial services provider’s stock after selling 532 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Primerica were worth $1,977,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after buying an additional 25,951 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Primerica in the 4th quarter valued at $34,191,000. Los Angeles Capital Management LLC grew its holdings in shares of Primerica by 10.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock valued at $32,573,000 after buying an additional 11,612 shares during the period. Prospector Partners LLC grew its holdings in shares of Primerica by 0.3% in the 3rd quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider’s stock valued at $20,431,000 after buying an additional 210 shares during the period. Finally, Stifel Financial Corp grew its holdings in shares of Primerica by 0.5% in the 3rd quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider’s stock valued at $16,965,000 after buying an additional 333 shares during the period. Institutional investors own 90.88% of the company’s stock.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now directly owns 13,301 shares of the company’s stock, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PRI shares. Morgan Stanley decreased their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. TD Cowen boosted their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Piper Sandler reduced their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Primerica has a consensus rating of “Hold” and an average target price of $309.86.

Primerica Price Performance

Shares of NYSE:PRI opened at $288.65 on Friday. The company’s 50-day moving average price is $285.57 and its two-hundred day moving average price is $280.31. The stock has a market capitalization of $9.60 billion, a PE ratio of 20.99 and a beta of 1.12. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.44%. This is a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. Primerica’s dividend payout ratio is presently 30.25%.

Primerica Company 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.