Dimensional Fund Advisors LP increased its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 650,578 shares of the financial services provider's stock after purchasing an additional 7,628 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.05% of Primerica worth $162,950,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. SJS Investment Consulting Inc. lifted its holdings in Primerica by 176.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock worth $29,000 after buying an additional 74 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Primerica in the 4th quarter valued at about $30,000. Root Financial Partners LLC increased its stake in shares of Primerica by 52.6% in the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock valued at $44,000 after buying an additional 61 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Primerica by 68.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider's stock valued at $47,000 after buying an additional 73 shares during the period. Finally, Steph & Co. increased its stake in shares of Primerica by 38.0% in the first quarter. Steph & Co. now owns 196 shares of the financial services provider's stock valued at $49,000 after buying an additional 54 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Primerica
In other Primerica news, President Peter W. Schneider sold 1,800 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $279.64, for a total value of $503,352.00. Following the transaction, the president directly owned 9,811 shares of the company's stock, valued at approximately $2,743,548.04. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $280.49, for a total value of $420,735.00. Following the transaction, the chief executive officer owned 33,696 shares in the company, valued at $9,451,391.04. The trade was a 4.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by insiders.
Primerica Trading Up 1.9%
PRI stock opened at $314.13 on Friday. The stock has a 50-day moving average price of $286.72 and a 200-day moving average price of $270.74. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $317.69. The firm has a market cap of $9.79 billion, a PE ratio of 13.17 and a beta of 0.88.
Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. During the same period in the previous year, the business earned $5.02 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that Primerica, Inc. will post 24.6 earnings per share for the current year.
Primerica Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Thursday, May 21st. Primerica's payout ratio is presently 20.13%.
Wall Street Analyst Weigh In
A number of research firms recently commented on PRI. Jefferies Financial Group lifted their price objective on Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods increased their target price on shares of Primerica from $305.00 to $323.00 and gave the company a "market perform" rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Primerica from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday. TD Cowen raised their price target on shares of Primerica from $322.00 to $360.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Morgan Stanley boosted their price target on shares of Primerica from $280.00 to $291.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $308.67.
Get Our Latest Stock Analysis on PRI
About Primerica
(
Free Report)
Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica's core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.
In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.
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