Los Angeles Capital Management LLC Boosts Stock Position in Primerica, Inc. (NYSE:PRI)

Los Angeles Capital Management LLC lifted its position in shares of Primerica, Inc. (NYSE:PRI) by 47.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 125,585 shares of the financial services provider’s stock after purchasing an additional 40,647 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Primerica were worth $25,840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in Primerica by 3.3% during the third quarter. Commonwealth Equity Services LLC now owns 2,367 shares of the financial services provider’s stock valued at $459,000 after buying an additional 75 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Primerica by 6.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 2,271 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 143 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Primerica by 378.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 50,445 shares of the financial services provider’s stock valued at $9,787,000 after purchasing an additional 39,905 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Primerica by 1.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,744 shares of the financial services provider’s stock worth $726,000 after purchasing an additional 59 shares during the last quarter. Finally, Stratos Wealth Partners LTD. bought a new stake in Primerica during the 3rd quarter valued at $284,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $243.41, for a total value of $365,115.00. Following the transaction, 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 accessible through the SEC website. In related 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 value of $365,115.00. Following the transaction, the president now directly owns 13,259 shares of the company’s stock, valued at approximately $3,227,373.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the sale, the insider now directly owns 100 shares of the company’s stock, valued at approximately $24,981. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,708 shares of company stock valued at $1,648,677. Insiders own 0.85% of the company’s stock.

Primerica Stock Performance

Shares of Primerica stock traded down $1.35 during trading on Friday, hitting $217.99. The company’s stock had a trading volume of 199,217 shares, compared to its average volume of 291,986. Primerica, Inc. has a 52 week low of $173.00 and a 52 week high of $256.56. The company has a market capitalization of $7.56 billion, a PE ratio of 13.73 and a beta of 1.10. The company has a fifty day simple moving average of $237.59 and a two-hundred day simple moving average of $223.02.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.27 by ($0.02). The business had revenue of $726.34 million for the quarter, compared to the consensus estimate of $723.64 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. Primerica’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.49 EPS. As a group, analysts predict that Primerica, Inc. will post 17.78 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Wednesday, February 21st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.38%. This is an increase from Primerica’s previous quarterly dividend of $0.65. The ex-dividend date was Tuesday, February 20th. Primerica’s payout ratio is 18.89%.

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.