Prescott Group Capital Management L.L.C. Buys 1,500 Shares of Primerica, Inc. (NYSE:PRI)

Prescott Group Capital Management L.L.C. lifted its stake in Primerica, Inc. (NYSE:PRI) by 10.8% during the second quarter, HoldingsChannel reports. The firm owned 15,443 shares of the financial services provider’s stock after purchasing an additional 1,500 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in Primerica were worth $3,054,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Raleigh Capital Management Inc. grew its holdings in shares of Primerica by 110.0% in the second quarter. Raleigh Capital Management Inc. now owns 126 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 66 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in Primerica during the 2nd quarter worth about $775,000. Covestor Ltd grew its holdings in Primerica by 74.7% during the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 109 shares in the last quarter. Lazard Asset Management LLC bought a new position in Primerica during the 4th quarter worth about $38,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in Primerica by 350.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 329 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 256 shares in the last quarter. 90.56% of the stock is currently owned by institutional investors.

Primerica Stock Down 1.6 %

Shares of Primerica stock traded down $3.39 during midday trading on Monday, hitting $206.17. The company had a trading volume of 40,557 shares, compared to its average volume of 144,911. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 13.86 and a beta of 1.16. The company has a fifty day simple moving average of $200.51 and a 200 day simple moving average of $198.55. Primerica, Inc. has a 12-month low of $135.00 and a 12-month high of $220.00.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $4.28 EPS for the quarter, beating the consensus estimate of $4.03 by $0.25. The firm had revenue of $710.90 million during the quarter, compared to analyst estimates of $703.50 million. Primerica had a net margin of 19.94% and a return on equity of 28.00%. Primerica’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $3.02 EPS. As a group, analysts expect that Primerica, Inc. will post 16 EPS for the current year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Monday, November 20th. Primerica’s dividend payout ratio is presently 17.20%.

Wall Street Analysts Forecast Growth

PRI has been the topic of several recent research reports. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley raised their price target on shares of Primerica from $190.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, November 15th. Jefferies Financial Group lowered their price target on shares of Primerica from $198.00 to $197.00 and set a “hold” rating on the stock in a report on Thursday, September 14th. Finally, Truist Financial raised their price target on shares of Primerica from $240.00 to $260.00 in a report on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $219.20.

Insiders Place Their Bets

In other Primerica news, CFO Alison S. Rand sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $202.26, for a total transaction of $606,780.00. Following the completion of the transaction, the chief financial officer now directly owns 9,444 shares of the company’s stock, valued at approximately $1,910,143.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, President Peter W. Schneider sold 3,500 shares of Primerica stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $201.43, for a total transaction of $705,005.00. Following the completion of the transaction, the president now directly owns 9,524 shares of the company’s stock, valued at approximately $1,918,419.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Alison S. Rand sold 3,000 shares of Primerica stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $202.26, for a total transaction of $606,780.00. Following the transaction, the chief financial officer now directly owns 9,444 shares of the company’s stock, valued at $1,910,143.44. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.