Dimensional Fund Advisors LP Acquires 22,486 Shares of Primerica, Inc. (NYSE:PRI)

Dimensional Fund Advisors LP lifted its holdings in shares of Primerica, Inc. (NYSE:PRI – Get Rating) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 812,200 shares of the financial services provider’s stock after acquiring an additional 22,486 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.20% of Primerica worth $115,184,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRI. U.S. Capital Wealth Advisors LLC purchased a new stake in Primerica in the fourth quarter worth $28,000. Covestor Ltd grew its stake in shares of Primerica by 74.7% in the first quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 109 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Primerica in the fourth quarter worth $38,000. FourThought Financial LLC grew its stake in shares of Primerica by 36.0% in the third quarter. FourThought Financial LLC now owns 487 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 129 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Primerica in the second quarter worth $69,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Primerica Stock Performance

PRI stock opened at $183.81 on Friday. Primerica, Inc. has a fifty-two week low of $110.22 and a fifty-two week high of $195.69. The business’s 50-day moving average is $174.05 and its two-hundred day moving average is $160.45. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 16.59 and a beta of 1.18.

Primerica (NYSE:PRI – Get Rating) last posted its earnings results on Monday, May 8th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $0.04. Primerica had a return on equity of 27.48% and a net margin of 15.33%. The company had revenue of $690.04 million for the quarter, compared to the consensus estimate of $697.61 million. During the same quarter in the prior year, the company earned $2.11 earnings per share. Primerica’s revenue was down .2% on a year-over-year basis. Equities analysts predict that Primerica, Inc. will post 15.24 earnings per share for the current year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Monday, May 22nd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Friday, May 19th. Primerica’s dividend payout ratio is 23.47%.

Insider Buying and Selling at Primerica

In other news, COO Gregory C. Pitts sold 12,903 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $186.71, for a total value of $2,409,119.13. Following the transaction, the chief operating officer now owns 8,180 shares of the company’s stock, valued at $1,527,287.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Peter W. Schneider sold 3,500 shares of the firm’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $175.47, for a total value of $614,145.00. Following the transaction, the president now owns 12,252 shares of the company’s stock, valued at $2,149,858.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gregory C. Pitts sold 12,903 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $186.71, for a total value of $2,409,119.13. Following the completion of the transaction, the chief operating officer now directly owns 8,180 shares in the company, valued at approximately $1,527,287.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,168 shares of company stock valued at $7,238,391. 0.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on PRI. Raymond James began coverage on Primerica in a research note on Wednesday, April 12th. They issued a “strong-buy” rating and a $244.00 target price on the stock. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Friday, May 12th. Morgan Stanley increased their target price on Primerica from $150.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Friday, February 24th. Truist Financial upped their price target on Primerica from $210.00 to $220.00 in a report on Thursday, May 11th. Finally, Keefe, Bruyette & Woods upped their price target on Primerica from $167.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, March 1st. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.25.

Primerica Company Profile

(Get Rating)

Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, Senior Health, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.