Copeland Capital Management LLC Takes $27.43 Million Position in Primerica, Inc. $PRI

Key Points

• Copeland Capital Management LLC acquired a new stake in Primerica, Inc. valued at approximately $27.43 million, representing about 0.30% ownership of the company.
• Primerica reported $5.46 EPS for its recent quarter, surpassing expectations and showing a revenue increase by 0.3% year-over-year.
• The company declared a quarterly dividend of $1.04 per share, translating to an annual yield of 1.5% with a payout ratio of 20.55%.

Copeland Capital Management LLC purchased a new position in Primerica, Inc. (NYSE:PRI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 100,212 shares of the financial services provider's stock, valued at approximately $27,425,000. Copeland Capital Management LLC owned approximately 0.30% of Primerica at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRI. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Primerica by 11.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,385 shares of the financial services provider's stock worth $919,000 after buying an additional 354 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Primerica by 26.9% in the first quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock worth $87,000 after buying an additional 65 shares in the last quarter. Vest Financial LLC purchased a new position in shares of Primerica in the first quarter worth about $3,485,000. Impact Capital Partners LLC lifted its stake in shares of Primerica by 9.8% in the first quarter. Impact Capital Partners LLC now owns 4,594 shares of the financial services provider's stock worth $1,307,000 after buying an additional 409 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in shares of Primerica in the first quarter worth about $210,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Stock Performance

Shares of PRI stock opened at $278.60 on Friday. The stock has a market capitalization of $9.02 billion, a P/E ratio of 13.76 and a beta of 0.97. The company has a 50 day moving average price of $268.84 and a 200 day moving average price of $268.10. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91.

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

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 22nd were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, August 22nd. Primerica's payout ratio is 20.55%.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the completion of the transaction, the chief executive officer owned 36,392 shares in the company, valued at $9,541,982.40. The trade was a 6.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PRI shares. Morgan Stanley raised their price target on shares of Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. BMO Capital Markets raised shares of Primerica from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $292.00 to $318.00 in a research note on Tuesday, September 23rd. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research note on Monday, August 11th. Finally, Jefferies Financial Group reduced their target price on shares of Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $316.29.

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.

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