Bamco Inc. NY Has $292.60 Million Stake in Primerica, Inc. $PRI

Bamco Inc. NY trimmed its position in shares of Primerica, Inc. (NYSE:PRI) by 19.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,132,544 shares of the financial services provider’s stock after selling 275,697 shares during the period. Primerica makes up approximately 0.8% of Bamco Inc. NY’s investment portfolio, making the stock its 21st largest position. Bamco Inc. NY’s holdings in Primerica were worth $292,604,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PRI. Smartleaf Asset Management LLC grew its stake in Primerica by 186.5% during the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after buying an additional 69 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Primerica during the fourth quarter worth about $30,000. Torren Management LLC acquired a new stake in Primerica during the fourth quarter worth about $50,000. Hantz Financial Services Inc. grew its stake in Primerica by 18.1% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock worth $66,000 after buying an additional 39 shares in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in Primerica during the fourth quarter worth about $67,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Price Performance

Shares of NYSE PRI opened at $281.72 on Thursday. The company has a 50 day simple moving average of $273.44 and a 200 day simple moving average of $263.16. The firm has a market cap of $8.78 billion, a PE ratio of 11.81 and a beta of 0.88. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $288.03.

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

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, May 21st. Primerica’s dividend payout ratio (DPR) is 20.13%.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the transaction, the chief executive officer owned 33,696 shares in the company, valued at approximately $9,451,391.04. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. The trade was a 15.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Primerica Company Profile

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.