Russell Investments Group Ltd. Buys 5,486 Shares of Primerica, Inc. $PRI

Russell Investments Group Ltd. grew its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 19.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,048 shares of the financial services provider's stock after acquiring an additional 5,486 shares during the quarter. Russell Investments Group Ltd. owned 0.10% of Primerica worth $9,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PRI. Hilltop National Bank bought a new position in shares of Primerica during the second quarter valued at about $31,000. Cullen Frost Bankers Inc. purchased a new stake in Primerica in the 2nd quarter valued at about $33,000. First Horizon Advisors Inc. lifted its position in shares of Primerica by 1,714.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider's stock worth $35,000 after buying an additional 120 shares in the last quarter. AdvisorNet Financial Inc lifted its position in shares of Primerica by 108.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider's stock worth $41,000 after buying an additional 77 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Primerica by 2,300.0% in the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock worth $48,000 after buying an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Buying and Selling

In related news, President Peter W. Schneider sold 2,000 shares of the company's stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $255.30, for a total transaction of $510,600.00. Following the completion of the transaction, the president owned 7,301 shares in the company, valued at $1,863,945.30. This represents a 21.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $259.65, for a total transaction of $649,125.00. Following the completion of the sale, the chief executive officer owned 33,892 shares in the company, valued at approximately $8,800,057.80. This trade represents a 6.87% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Keefe, Bruyette & Woods decreased their price target on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Tuesday, November 11th. Piper Sandler set a $292.00 target price on Primerica and gave the company a "neutral" rating in a research report on Tuesday, October 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Primerica in a research note on Monday. Zacks Research upgraded shares of Primerica from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 21st. Finally, BMO Capital Markets upgraded shares of Primerica from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $292.00 to $318.00 in a report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Primerica has a consensus rating of "Moderate Buy" and a consensus target price of $301.80.

Check Out Our Latest Research Report on PRI

Primerica Trading Down 1.4%

Shares of NYSE:PRI opened at $252.84 on Wednesday. The company has a 50-day moving average price of $263.65 and a 200-day moving average price of $266.19. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 11.62 and a beta of 0.90. Primerica, Inc. has a 12 month low of $230.98 and a 12 month high of $301.85.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.52 by $0.81. The company had revenue of $838.88 million for the quarter, compared to the consensus estimate of $817.81 million. Primerica had a return on equity of 31.75% and a net margin of 22.36%.Primerica's revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.83 EPS. As a group, research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 19th that authorizes the company to buyback $475.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 21st will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. Primerica's payout ratio is 19.12%.

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.

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