Brandywine Global Investment Management LLC Acquires 16,229 Shares of Primerica, Inc. $PRI

Key Points

• Brandywine Global Investment Management LLC increased its position in Primerica, Inc. by 59%, owning approximately 0.13% of the company, valued at $12.4 million.
• Several analysts have set new price targets for Primerica, with a consensus target of $313.57 and a majority recommending a "hold" rating.
• Primerica announced a quarterly dividend of $1.04 per share, providing an annual yield of 1.6%, payable on September 15.

Brandywine Global Investment Management LLC boosted its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 59.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,719 shares of the financial services provider's stock after purchasing an additional 16,229 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.13% of Primerica worth $12,439,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PRI. Cerity Partners LLC lifted its stake in Primerica by 15.2% in the 4th quarter. Cerity Partners LLC now owns 4,274 shares of the financial services provider's stock worth $1,139,000 after purchasing an additional 565 shares in the last quarter. Barclays PLC raised its position in shares of Primerica by 43.4% during the 4th quarter. Barclays PLC now owns 29,347 shares of the financial services provider's stock valued at $7,964,000 after buying an additional 8,876 shares in the last quarter. Mariner LLC raised its position in shares of Primerica by 1.4% during the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock valued at $709,000 after buying an additional 36 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Primerica during the 4th quarter valued at about $1,230,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Primerica during the 4th quarter valued at about $1,981,000. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Stock Down 0.8%

Primerica stock traded down $2.0260 during midday trading on Thursday, reaching $265.3840. The stock had a trading volume of 160,053 shares, compared to its average volume of 169,830. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $307.91. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of 13.11 and a beta of 0.99. The company has a fifty day moving average of $265.29 and a 200 day moving average of $270.63.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping analysts' consensus estimates of $5.18 by $0.28. The business had revenue of $796.02 million for the quarter, compared to the consensus estimate of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The company's revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.71 EPS. Equities research analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 22nd. Primerica's dividend payout ratio is currently 20.55%.

Analyst Ratings Changes

Several analysts have recently issued reports on PRI shares. Morgan Stanley upped their target price on shares of Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a research report on Monday. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. Finally, Jefferies Financial Group decreased their target price on shares of Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a research report on Monday, August 11th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Primerica has a consensus rating of "Hold" and a consensus price target of $315.29.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at $9,541,982.40. This represents a 6.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by corporate insiders.

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.