Primerica, Inc. (NYSE:PRI) Shares Bought by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its stake in Primerica, Inc. by 30.5% during the first quarter, bringing its total holdings to 6,873 shares worth approximately $1.96 million.
• Primerica recently announced a quarterly dividend of $1.04 per share, which will be paid on September 15th, resulting in an annualized dividend of $4.16 and a yield of 1.6%.
• Following an earnings report that beat estimates with an EPS of $5.46, Primerica showed a revenue increase year-over-year, totaling $796.02 million for the quarter.

Townsquare Capital LLC increased its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 30.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,873 shares of the financial services provider's stock after purchasing an additional 1,607 shares during the quarter. Townsquare Capital LLC's holdings in Primerica were worth $1,956,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Federated Hermes Inc. boosted its position in Primerica by 13.2% during the fourth quarter. Federated Hermes Inc. now owns 3,779 shares of the financial services provider's stock worth $1,026,000 after purchasing an additional 440 shares in the last quarter. Cerity Partners LLC boosted its position in shares of 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 buying an additional 565 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Primerica in the 4th quarter worth about $34,191,000. Bessemer Group Inc. grew its stake in Primerica by 182.2% in the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider's stock valued at $69,000 after acquiring an additional 164 shares during the last quarter. Finally, Sterling Capital Management LLC increased its holdings in Primerica by 52.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,002 shares of the financial services provider's stock valued at $543,000 after acquiring an additional 685 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PRI. Morgan Stanley lifted their price objective on Primerica from $274.00 to $296.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Jefferies Financial Group lowered their price target on Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research report on Monday, August 11th. Finally, Keefe, Bruyette & Woods boosted their price objective 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. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $313.57.

Primerica Trading Down 0.6%

PRI stock traded down $1.48 during midday trading on Friday, hitting $261.36. 133,668 shares of the company's stock were exchanged, compared to its average volume of 163,494. The firm has a 50 day moving average price of $264.98 and a 200-day moving average price of $271.16. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 12.91 and a beta of 0.99.

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

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 22nd will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. Primerica's dividend payout ratio (DPR) is presently 20.55%.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the completion of the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.61% of the company's stock.

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.