WCM Investment Management LLC Sells 14,637 Shares of Primerica, Inc. (NYSE:PRI)

WCM Investment Management LLC reduced its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 15.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,746 shares of the financial services provider's stock after selling 14,637 shares during the quarter. WCM Investment Management LLC owned approximately 0.23% of Primerica worth $16,456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. ORG Partners LLC purchased a new stake in Primerica during the fourth quarter valued at about $26,000. Sapient Capital LLC acquired a new stake in Primerica during the fourth quarter worth about $474,000. International Assets Investment Management LLC increased its stake in Primerica by 20,472.7% during the fourth quarter. International Assets Investment Management LLC now owns 2,263 shares of the financial services provider's stock worth $466,000 after acquiring an additional 2,252 shares during the last quarter. Trust Point Inc. acquired a new stake in Primerica during the fourth quarter worth about $339,000. Finally, JLB & Associates Inc. increased its stake in Primerica by 190.9% during the fourth quarter. JLB & Associates Inc. now owns 5,122 shares of the financial services provider's stock worth $1,054,000 after acquiring an additional 3,361 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Stock Down 0.6 %

NYSE:PRI traded down $1.30 during trading hours on Friday, reaching $222.09. 269,629 shares of the stock were exchanged, compared to its average volume of 123,508. The stock has a market capitalization of $7.71 billion, a P/E ratio of 13.99 and a beta of 1.06. Primerica, Inc. has a 52 week low of $172.29 and a 52 week high of $256.56. The firm has a 50 day simple moving average of $245.38 and a 200-day simple moving average of $221.53.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.27 by ($0.02). The company had revenue of $726.34 million during the quarter, compared to the consensus estimate of $723.64 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the business posted $3.49 EPS. As a group, analysts expect that Primerica, Inc. will post 17.76 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Wednesday, February 21st were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $3.00 annualized dividend and a yield of 1.35%. This is an increase from Primerica's previous quarterly dividend of $0.65. Primerica's payout ratio is presently 18.89%.

Wall Street Analyst Weigh In

Several brokerages have commented on PRI. Keefe, Bruyette & Woods upped their price target on Primerica from $255.00 to $260.00 and gave the stock a "market perform" rating in a research note on Wednesday. Raymond James lowered Primerica from a "strong-buy" rating to a "market perform" rating in a research note on Monday, February 12th. StockNews.com upgraded Primerica from a "hold" rating to a "buy" rating in a research note on Thursday, March 7th. Truist Financial increased their target price on Primerica from $260.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, February 15th. Finally, Morgan Stanley raised their price objective on Primerica from $215.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, March 1st. Four 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.com, the company currently has a consensus rating of "Hold" and a consensus target price of $244.25.

Insider Buying and Selling at Primerica

In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of Primerica stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total transaction of $302,535.00. Following the sale, the director now owns 16,467 shares of the company's stock, valued at approximately $4,100,283. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John A. Jr. Addison sold 1,215 shares of Primerica stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total transaction of $302,535.00. Following the transaction, the director now directly owns 16,467 shares in the company, valued at approximately $4,100,283. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction on Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the transaction, the chief operating officer now owns 3,379 shares in the company, valued at $829,307.97. The disclosure for this sale can be found here. Insiders have sold 6,708 shares of company stock valued at $1,648,677 in the last quarter. Corporate insiders own 0.85% 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.