Squarepoint Ops LLC Boosts Stake in Primerica, Inc. $PRI

Squarepoint Ops LLC grew its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 51.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,570 shares of the financial services provider's stock after buying an additional 9,678 shares during the quarter. Squarepoint Ops LLC owned 0.09% of Primerica worth $8,120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nykredit A S bought a new position in shares of Primerica in the second quarter valued at approximately $356,000. Corient Private Wealth LP lifted its holdings in Primerica by 1.7% during the second quarter. Corient Private Wealth LP now owns 23,203 shares of the financial services provider's stock worth $6,594,000 after acquiring an additional 383 shares during the period. HighTower Advisors LLC lifted its holdings in Primerica by 15.3% during the second quarter. HighTower Advisors LLC now owns 7,363 shares of the financial services provider's stock worth $2,093,000 after acquiring an additional 975 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Primerica during the second quarter worth $4,415,000. Finally, California State Teachers Retirement System boosted its position in Primerica by 27,655.6% in the second quarter. California State Teachers Retirement System now owns 10,341,470 shares of the financial services provider's stock worth $2,939,046,000 after purchasing an additional 10,304,211 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Buying and Selling at Primerica

In other Primerica news, President Peter Schneider sold 1,800 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $312.65, for a total transaction of $562,770.00. Following the sale, the president directly owned 8,011 shares of the company's stock, valued at $2,504,639.15. This represents a 18.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Cottle sold 279 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the transaction, the director owned 3,549 shares of the company's stock, valued at $1,113,072.87. This represents a 7.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,579 shares of company stock valued at $1,130,573 over the last three months. 0.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Primerica from $323.00 to $335.00 and gave the company a "market perform" rating in a research note on Tuesday, August 11th. Morgan Stanley boosted their price target on shares of Primerica from $291.00 to $316.00 and gave the stock an "equal weight" rating in a report on Monday, August 24th. Weiss Ratings lowered shares of Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Truist Financial restated a "hold" rating and set a $320.00 price objective (down from $370.00) on shares of Primerica in a report on Thursday, August 27th. Finally, Jefferies Financial Group lifted their price objective on shares of Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $315.57.

Primerica Price Performance

NYSE:PRI opened at $289.05 on Friday. The business has a fifty day simple moving average of $305.95 and a two-hundred day simple moving average of $281.29. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $327.28. The company has a market capitalization of $8.90 billion, a P/E ratio of 11.61 and a beta of 0.86.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.38. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The firm had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. During the same period in the previous year, the company posted $5.46 earnings per share. The business's revenue was up 9.0% on a year-over-year basis. As a group, analysts anticipate that Primerica, Inc. will post 25.2 earnings per share for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, August 21st. Primerica's payout ratio is currently 19.28%.

About Primerica

Primerica, Inc is a financial services company that helps middle-income households in the United States and Canada address their insurance, investment and retirement needs. The company primarily distributes its products through a network of independent representatives who provide financial education and assistance to clients.

Primerica's principal offerings include term life insurance, mutual funds and other investment products, annuities, managed investments and retirement solutions. Through its subsidiaries and affiliated providers, the company also offers products and services related to mortgage lending, debt consolidation and other financial needs.

The company was founded in 1977 as A.L.

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