Los Angeles Capital Management LLC Lowers Stock Position in Primerica, Inc. $PRI

Los Angeles Capital Management LLC reduced its stake in Primerica, Inc. (NYSE:PRI) by 73.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,801 shares of the financial services provider’s stock after selling 30,193 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Primerica were worth $2,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PRI. Life Cycle Investment Partners Ltd purchased a new stake in Primerica in the fourth quarter valued at approximately $40,714,000. Danske Bank A S purchased a new stake in Primerica in the third quarter valued at approximately $30,396,000. Arbejdsmarkedets Tillaegspension purchased a new stake in Primerica in the fourth quarter valued at approximately $23,767,000. AQR Capital Management LLC raised its stake in Primerica by 25.5% in the third quarter. AQR Capital Management LLC now owns 347,531 shares of the financial services provider’s stock valued at $96,089,000 after purchasing an additional 70,510 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Primerica by 12.4% in the third quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock valued at $136,597,000 after purchasing an additional 54,158 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Stock Performance

Shares of Primerica stock opened at $271.97 on Wednesday. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $288.03. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 11.40 and a beta of 0.88. The company’s 50 day moving average price is $270.00 and its 200-day moving average price is $262.29.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. During the same quarter last year, the business earned $5.02 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Primerica, Inc. will post 24.45 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 21st will be issued a $1.20 dividend. The ex-dividend date is Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. Primerica’s dividend payout ratio (DPR) is currently 20.13%.

Insider Activity

In other news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the transaction, the president owned 9,811 shares in the company, valued at approximately $2,743,548.04. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PRI shares. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Morgan Stanley raised their target price on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods raised their target price on shares of Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Finally, Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $297.80.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.