Arizona State Retirement System Has $2.06 Million Holdings in Primerica, Inc. (NYSE:PRI)

Arizona State Retirement System cut its stake in shares of Primerica, Inc. (NYSE:PRI) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,999 shares of the financial services provider’s stock after selling 315 shares during the period. Arizona State Retirement System’s holdings in Primerica were worth $2,057,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Trust Point Inc. bought a new position in Primerica during the fourth quarter worth about $339,000. Los Angeles Capital Management LLC lifted its holdings in Primerica by 44.1% during the third quarter. Los Angeles Capital Management LLC now owns 84,938 shares of the financial services provider’s stock worth $16,479,000 after acquiring an additional 25,981 shares in the last quarter. James Investment Research Inc. bought a new position in Primerica during the third quarter worth about $1,054,000. Alps Advisors Inc. bought a new position in Primerica during the third quarter worth about $6,098,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in Primerica by 25.5% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 2,226 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 452 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Down 8.3 %

Shares of NYSE PRI opened at $223.01 on Friday. The business’s 50 day moving average price is $245.62 and its two-hundred day moving average price is $221.02. The company has a market cap of $7.74 billion, a PE ratio of 14.04 and a beta of 1.06. Primerica, Inc. has a twelve month low of $171.81 and a twelve month high of $256.56.

Primerica (NYSE:PRI) last announced its quarterly 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). Primerica had a return on equity of 27.83% and a net margin of 20.37%. The business had revenue of $726.34 million for the quarter, compared to analyst estimates of $723.64 million. During the same period last year, the firm earned $3.49 EPS. Primerica’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, research analysts anticipate that Primerica, Inc. will post 17.75 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were given a $0.75 dividend. This is an increase from Primerica’s previous quarterly dividend of $0.65. The ex-dividend date was Tuesday, February 20th. This represents a $3.00 annualized dividend and a dividend yield of 1.35%. Primerica’s dividend payout ratio is presently 18.89%.

Wall Street Analysts Forecast Growth

PRI has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price target on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th. Truist Financial boosted their price target on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, Morgan Stanley boosted their price target on Primerica from $215.00 to $245.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $244.20.

Insider Activity

In other news, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 100 shares of the company’s stock, valued at $24,981. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 100 shares of the company’s stock, valued at $24,981. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Jr. Addison sold 1,215 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total value of $302,535.00. Following the completion of the sale, the director now owns 16,467 shares of the company’s stock, valued at $4,100,283. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,708 shares of company stock valued at $1,648,677. 0.85% of the stock is owned by insiders.

About Primerica

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.