Lazard Asset Management LLC Increases Position in Primerica, Inc. (NYSE:PRI)

Lazard Asset Management LLC grew its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 24.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,068 shares of the financial services provider's stock after buying an additional 981 shares during the period. Lazard Asset Management LLC's holdings in Primerica were worth $1,375,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC increased its position in Primerica by 108.1% during the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock worth $5,428,000 after buying an additional 10,635 shares in the last quarter. Sylvest Advisors LLC purchased a new position in Primerica during the fourth quarter worth $543,000. California Public Employees Retirement System increased its position in Primerica by 59.4% during the fourth quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider's stock worth $30,323,000 after buying an additional 41,612 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Primerica by 10.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider's stock worth $32,573,000 after buying an additional 11,612 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Primerica by 4,150.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,123 shares of the financial services provider's stock worth $1,120,000 after buying an additional 4,026 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on PRI shares. Keefe, Bruyette & Woods dropped 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 Wednesday, April 9th. Wall Street Zen downgraded Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Finally, Morgan Stanley lifted their price objective on Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Primerica has an average rating of "Hold" and an average target price of $308.00.

Insider Activity at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the transaction, the insider now owns 200 shares in the company, valued at approximately $56,030. This trade represents a 53.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07% decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Primerica Stock Down 0.7%

Shares of NYSE:PRI traded down $1.80 during midday trading on Friday, reaching $266.78. The company's stock had a trading volume of 109,405 shares, compared to its average volume of 157,530. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 19.40 and a beta of 1.02. Primerica, Inc. has a 1 year low of $219.52 and a 1 year high of $307.91. The business has a 50 day moving average price of $268.07 and a 200 day moving average price of $279.84.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share for the quarter, beating analysts' consensus estimates of $4.77 by $0.25. Primerica had a return on equity of 31.11% and a net margin of 15.14%. The firm had revenue of $803.56 million for the quarter, compared to analysts' expectations of $783.54 million. During the same quarter last year, the firm earned $3.91 earnings per share. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 22nd will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, May 22nd. Primerica's payout ratio is currently 27.98%.

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.