Xponance Inc. Decreases Stock Holdings in Primerica, Inc. (NYSE:PRI)

Xponance Inc. lessened its stake in Primerica, Inc. (NYSE:PRI) by 4.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,478 shares of the financial services provider’s stock after selling 312 shares during the quarter. Xponance Inc.’s holdings in Primerica were worth $1,333,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Trust Point Inc. acquired a new stake in shares of Primerica in the fourth quarter valued at about $339,000. Louisiana State Employees Retirement System purchased a new stake in Primerica during the 4th quarter worth approximately $2,016,000. Los Angeles Capital Management LLC raised its holdings in shares of 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 valued at $16,479,000 after acquiring an additional 25,981 shares during the last quarter. James Investment Research Inc. acquired a new position in shares of Primerica during the third quarter valued at approximately $1,054,000. Finally, Alps Advisors Inc. purchased a new position in shares of Primerica in the third quarter valued at approximately $6,098,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John A. Jr. Addison sold 1,215 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total transaction of $302,535.00. Following the completion of the sale, the director now directly owns 16,467 shares of the company’s stock, valued at approximately $4,100,283. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the transaction, the chief operating officer now directly owns 3,379 shares in the company, valued at $829,307.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Jr. Addison sold 1,215 shares of Primerica stock in a transaction 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 directly owns 16,467 shares of the company’s stock, valued at $4,100,283. The disclosure for this sale can be found here. Insiders have sold a total of 6,708 shares of company stock valued at $1,648,677 in the last quarter. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

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

Primerica Trading Up 1.6 %

Shares of PRI opened at $221.92 on Thursday. The firm has a 50-day moving average price of $242.03 and a 200 day moving average price of $222.57. Primerica, Inc. has a 12-month low of $173.00 and a 12-month high of $256.56. The firm has a market capitalization of $7.70 billion, a P/E ratio of 13.97 and a beta of 1.06.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.27 by ($0.02). The firm had revenue of $726.34 million during the quarter, compared to analysts’ expectations of $723.64 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned $3.49 EPS. Equities research analysts predict that Primerica, Inc. will post 17.78 earnings per share for the current fiscal year.

Primerica Increases Dividend

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

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.