WCM Investment Management LLC Purchases 3,439 Shares of Primerica, Inc. $PRI

Key Points

• WCM Investment Management LLC increased its stake in Primerica, Inc. by 5.9% in the second quarter, acquiring an additional 3,439 shares, bringing its total shares to 61,375, valued at approximately $16.48 million.
• The company reported earnings of $5.46 per share for the last quarter, surpassing analyst estimates, alongside a revenue increase of 0.3% compared to the same period last year.
• Primerica recently declared a quarterly dividend of $1.04 per share, with a current yield of 1.6% and a payout ratio of 20.55%.

WCM Investment Management LLC raised its position in Primerica, Inc. (NYSE:PRI - Free Report) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,375 shares of the financial services provider's stock after purchasing an additional 3,439 shares during the quarter. WCM Investment Management LLC owned 0.19% of Primerica worth $16,481,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PRI. Hilltop National Bank bought a new position in Primerica in the second quarter valued at about $31,000. AdvisorNet Financial Inc increased its stake in shares of Primerica by 108.5% in the second quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider's stock valued at $41,000 after buying an additional 77 shares during the period. Headlands Technologies LLC increased its stake in shares of Primerica by 2,300.0% in the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock valued at $48,000 after buying an additional 161 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Primerica in the first quarter valued at about $64,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Primerica by 105.7% in the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock valued at $72,000 after buying an additional 130 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Primerica Price Performance

NYSE PRI opened at $258.12 on Friday. The business has a 50 day simple moving average of $270.09 and a 200 day simple moving average of $266.84. Primerica, Inc. has a one year low of $230.98 and a one year high of $307.91. The stock has a market capitalization of $8.36 billion, a P/E ratio of 12.75 and a beta of 0.97.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, beating analysts' consensus estimates of $5.18 by $0.28. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The firm had revenue of $796.02 million during the quarter, compared to analysts' expectations of $790.99 million. During the same quarter last year, the firm posted $4.71 earnings per share. The company's revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 22nd were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 22nd. Primerica's dividend payout ratio (DPR) is 20.55%.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer owned 36,392 shares of the company's stock, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PRI. Weiss Ratings reissued a "buy (b)" rating on shares of Primerica in a research note on Wednesday, October 8th. Piper Sandler set a $292.00 price target on Primerica and gave the company a "neutral" rating in a research note on Tuesday, October 7th. Morgan Stanley decreased their price target on Primerica from $308.00 to $306.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 7th. BMO Capital Markets raised Primerica from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $292.00 to $318.00 in a research note on Tuesday, September 23rd. Finally, Keefe, Bruyette & Woods raised their target price on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research note on Monday, August 11th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $314.86.

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.

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