Dimensional Fund Advisors LP lowered its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 656,261 shares of the financial services provider's stock after selling 31,317 shares during the quarter. Dimensional Fund Advisors LP owned about 1.87% of Primerica worth $135,034,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Invesco Ltd. lifted its stake in Primerica by 110.6% in the third quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider's stock valued at $87,200,000 after buying an additional 236,051 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Primerica by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,340 shares of the financial services provider's stock valued at $64,477,000 after acquiring an additional 3,066 shares during the period. Los Angeles Capital Management LLC boosted its stake in Primerica by 47.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider's stock worth $25,840,000 after acquiring an additional 40,647 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Primerica by 86.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider's stock valued at $23,010,000 after purchasing an additional 55,076 shares during the period. Finally, Natixis Advisors L.P. increased its stake in Primerica by 0.3% in the third quarter. Natixis Advisors L.P. now owns 115,839 shares of the financial services provider's stock valued at $22,474,000 after purchasing an additional 303 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.
Primerica Price Performance
Shares of PRI traded up $3.75 during midday trading on Friday, hitting $228.08. The stock had a trading volume of 198,575 shares, compared to its average volume of 193,873. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 13.88 and a beta of 1.10. The company has a 50 day simple moving average of $232.69 and a two-hundred day simple moving average of $225.08. Primerica, Inc. has a twelve month low of $179.15 and a twelve month high of $256.56.
Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings data on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.12 by ($0.21). The firm had revenue of $742.83 million for the quarter, compared to the consensus estimate of $740.57 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.49 earnings per share. Analysts forecast that Primerica, Inc. will post 17.57 EPS for the current fiscal year.
Primerica Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 21st will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Monday, May 20th. Primerica's dividend payout ratio is presently 18.26%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on PRI shares. Truist Financial lifted their price target on shares of Primerica from $260.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, February 15th. Raymond James cut Primerica from a "strong-buy" rating to a "market perform" rating in a research note on Monday, February 12th. StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a report on Tuesday, May 7th. Morgan Stanley lifted their price objective on Primerica from $245.00 to $250.00 and gave the company an "equal weight" rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods increased their target price on Primerica from $255.00 to $260.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $245.50.
Read Our Latest Research Report on PRI
Insider Buying and Selling
In other news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the transaction, the president now directly owns 13,259 shares in the company, valued at approximately $3,227,373.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, President Peter W. Schneider sold 1,500 shares of the company's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the sale, the president now owns 13,259 shares in the company, valued at approximately $3,227,373.19. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Gregory C. Pitts sold 3,759 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 3,379 shares of the company's stock, valued at approximately $829,307.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,708 shares of company stock worth $1,648,677. 0.85% of the stock is owned by insiders.
About Primerica
(
Free Report)
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.
Further Reading
Before you consider Primerica, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Primerica wasn't on the list.
While Primerica currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
