Los Angeles Capital Management LLC Sells 85 Shares of Primerica, Inc. (NYSE:PRI)

Los Angeles Capital Management LLC cut its stake in Primerica, Inc. (NYSE:PRIGet Rating) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,535 shares of the financial services provider’s stock after selling 85 shares during the period. Los Angeles Capital Management LLC’s holdings in Primerica were worth $543,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D boosted its holdings in Primerica by 5.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 24,692 shares of the financial services provider’s stock valued at $2,955,000 after acquiring an additional 1,238 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Primerica by 5.5% during the 2nd quarter. Xponance Inc. now owns 4,567 shares of the financial services provider’s stock worth $547,000 after buying an additional 238 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Primerica by 16.0% during the 1st quarter. Van ECK Associates Corp now owns 956 shares of the financial services provider’s stock worth $131,000 after buying an additional 132 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of Primerica by 18.2% during the 1st quarter. WCM Investment Management LLC now owns 88,880 shares of the financial services provider’s stock worth $12,161,000 after buying an additional 13,682 shares in the last quarter. Finally, Dana Investment Advisors Inc. boosted its holdings in shares of Primerica by 1.6% during the 1st quarter. Dana Investment Advisors Inc. now owns 11,643 shares of the financial services provider’s stock worth $1,593,000 after buying an additional 188 shares in the last quarter. 91.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PRI. Morgan Stanley increased their price target on Primerica from $132.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 17th. William Blair downgraded Primerica from an “outperform” rating to a “market perform” rating in a research report on Thursday. StockNews.com began coverage on Primerica in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Truist Financial lifted their price target on Primerica from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Primerica has an average rating of “Hold” and a consensus price target of $161.00.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 4,000 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $133.93, for a total transaction of $535,720.00. Following the sale, the chief executive officer now directly owns 58,215 shares in the company, valued at $7,796,734.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Primerica news, CFO Alison S. Rand sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $127.40, for a total value of $191,100.00. Following the transaction, the chief financial officer now directly owns 12,433 shares in the company, valued at $1,583,964.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Glenn J. Williams sold 4,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $133.93, for a total transaction of $535,720.00. Following the completion of the transaction, the chief executive officer now owns 58,215 shares in the company, valued at $7,796,734.95. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.

Primerica Stock Down 0.3 %

Shares of Primerica stock opened at $138.25 on Friday. The firm’s 50 day moving average price is $132.07 and its 200-day moving average price is $127.21. The company has a market cap of $5.18 billion, a P/E ratio of 19.50 and a beta of 1.24. Primerica, Inc. has a 52-week low of $110.22 and a 52-week high of $164.06.

Primerica (NYSE:PRIGet Rating) last issued its quarterly earnings results on Tuesday, November 8th. The financial services provider reported $3.02 EPS for the quarter, topping the consensus estimate of $2.94 by $0.08. Primerica had a net margin of 12.12% and a return on equity of 21.81%. The company had revenue of $673.29 million during the quarter, compared to analyst estimates of $675.99 million. During the same quarter in the previous year, the firm earned $2.98 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Primerica, Inc. will post 11.14 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 22nd will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $2.20 dividend on an annualized basis and a yield of 1.59%. Primerica’s payout ratio is currently 31.03%.

Primerica declared that its Board of Directors has approved a stock buyback plan on Thursday, August 11th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Primerica Profile

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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.

Further Reading

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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