Flputnam Investment Management Co. Decreases Stock Position in Primerica, Inc. (NYSE:PRI)

Flputnam Investment Management Co. cut its position in Primerica, Inc. (NYSE:PRI) by 22.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,675 shares of the financial services provider’s stock after selling 2,209 shares during the quarter. Flputnam Investment Management Co.’s holdings in Primerica were worth $1,579,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PRI. American Century Companies Inc. raised its holdings in Primerica by 55.7% in the first quarter. American Century Companies Inc. now owns 13,707 shares of the financial services provider’s stock valued at $1,875,000 after acquiring an additional 4,901 shares in the last quarter. US Bancorp DE raised its holdings in shares of Primerica by 1,844.1% during the first quarter. US Bancorp DE now owns 1,983 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 1,881 shares during the period. HighTower Advisors LLC raised its holdings in shares of Primerica by 4.7% during the first quarter. HighTower Advisors LLC now owns 6,839 shares of the financial services provider’s stock worth $939,000 after purchasing an additional 307 shares during the period. Bank of Montreal Can raised its holdings in shares of Primerica by 0.8% during the first quarter. Bank of Montreal Can now owns 24,752 shares of the financial services provider’s stock worth $3,413,000 after purchasing an additional 199 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in shares of Primerica by 33.4% during the first quarter. MetLife Investment Management LLC now owns 25,533 shares of the financial services provider’s stock worth $3,493,000 after purchasing an additional 6,396 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Trading Up 0.5 %

NYSE:PRI opened at $214.03 on Wednesday. Primerica, Inc. has a twelve month low of $173.00 and a twelve month high of $256.56. The company has a 50-day moving average of $244.64 and a 200-day moving average of $221.78. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 13.48 and a beta of 1.06.

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

Primerica Increases Dividend

The company also recently disclosed 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 was Tuesday, February 20th. This is a positive change from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 dividend on an annualized basis and a yield of 1.40%. Primerica’s dividend payout ratio is currently 18.89%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PRI shares. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Keefe, Bruyette & Woods increased their target price on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Raymond James cut shares of Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th. Truist Financial increased their price objective on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Finally, Morgan Stanley increased their price objective on shares of Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $245.50.

Insider Buying and Selling at Primerica

In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction 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 $829,307.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction 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 $829,307.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total transaction of $58,455.54. Following the sale, the insider now directly owns 100 shares of the company’s stock, valued at $24,981. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,708 shares of company stock valued at $1,648,677. 0.61% of the stock is currently owned by corporate insiders.

Primerica 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.