Victory Capital Management Inc. Trims Stock Holdings in Primerica, Inc. (NYSE:PRI)

Victory Capital Management Inc. cut its holdings in shares of Primerica, Inc. (NYSE:PRI) by 52.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,699 shares of the financial services provider’s stock after selling 203,492 shares during the quarter. Victory Capital Management Inc.’s holdings in Primerica were worth $38,004,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. LWM Advisory Services LLC acquired a new position in Primerica during the 3rd quarter worth $26,000. ORG Partners LLC bought a new stake in Primerica in the fourth quarter valued at about $26,000. Sound Income Strategies LLC raised its stake in 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 buying an additional 128 shares in the last quarter. Assetmark Inc. lifted its holdings in Primerica by 14.2% during the 3rd quarter. Assetmark Inc. now owns 674 shares of the financial services provider’s stock worth $131,000 after buying an additional 84 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Primerica in the 4th quarter worth approximately $133,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Primerica

In related news, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the transaction, the chief operating officer now owns 3,379 shares in the company, valued at $829,307.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the completion of the transaction, the chief operating officer now owns 3,379 shares of the company’s stock, valued at $829,307.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the transaction, the president now directly owns 13,259 shares in the company, valued at $3,227,373.19. The disclosure for this sale can be found here. In the last three months, insiders sold 6,708 shares of company stock valued at $1,648,677. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

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

Primerica Trading Up 2.2 %

Shares of NYSE PRI opened at $222.75 on Tuesday. Primerica, Inc. has a 12-month low of $176.81 and a 12-month high of $256.56. The company has a market cap of $7.73 billion, a PE ratio of 14.03 and a beta of 1.10. The stock has a 50 day simple moving average of $237.10 and a 200-day simple moving average of $223.33.

Primerica (NYSE:PRI) last released its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.12 by ($0.21). The business had revenue of $742.83 million during the quarter, compared to the consensus estimate of $740.57 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.49 EPS. Sell-side analysts forecast that Primerica, Inc. will post 17.78 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Wednesday, February 21st were paid a dividend of $0.75 per share. This is a boost from Primerica’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $3.00 annualized dividend and a yield of 1.35%. Primerica’s dividend payout ratio (DPR) is presently 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.