New York State Teachers Retirement System Reduces Stock Holdings in Primerica, Inc. (NYSE:PRI)

New York State Teachers Retirement System lowered its position in shares of Primerica, Inc. (NYSE:PRI) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,591 shares of the financial services provider’s stock after selling 275 shares during the quarter. New York State Teachers Retirement System’s holdings in Primerica were worth $3,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arlington Trust Co LLC bought a new position in shares of Primerica during the third quarter valued at $25,000. LWM Advisory Services LLC bought a new position in shares of Primerica during the third quarter valued at $26,000. Covestor Ltd increased its holdings in shares of Primerica by 74.7% during the first quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 109 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Primerica during the fourth quarter valued at $38,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Primerica by 121.9% during the fourth quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Raymond James downgraded Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th. Morgan Stanley lifted their price objective on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday. Truist Financial lifted their price objective on Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Keefe, Bruyette & Woods lifted their price objective on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $245.50.

Primerica Stock Down 4.1 %

PRI stock opened at $213.04 on Tuesday. Primerica, Inc. has a twelve month low of $173.00 and a twelve month high of $256.56. The stock has a market cap of $7.39 billion, a P/E ratio of 13.42 and a beta of 1.06. The business’s 50-day moving average price is $244.98 and its 200-day moving average price is $221.64.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, February 13th. The financial services provider reported $4.25 EPS 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 during the quarter, compared to analysts’ expectations of $723.64 million. During the same period in the prior year, the firm posted $3.49 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Primerica, Inc. will post 17.76 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were issued a $0.75 dividend. The ex-dividend date was Tuesday, February 20th. This is a boost from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. Primerica’s payout ratio is currently 18.89%.

Insider Buying and Selling

In other news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the transaction, the president now owns 13,259 shares of the company’s stock, valued at approximately $3,227,373.19. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the transaction, the president now owns 13,259 shares of the company’s stock, valued at approximately $3,227,373.19. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total value of $58,455.54. Following the transaction, the insider now directly owns 100 shares in the company, valued at approximately $24,981. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,708 shares of company stock valued at $1,648,677. Corporate insiders own 0.61% of the company’s stock.

Primerica Company Profile

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.