Boston Partners Buys New Stake in Primerica, Inc. $PRI

Boston Partners purchased a new position in shares of Primerica, Inc. (NYSE:PRI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,290 shares of the financial services provider’s stock, valued at approximately $352,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRI. Hilltop National Bank purchased a new position in shares of Primerica during the second quarter worth about $31,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Primerica in the 2nd quarter valued at about $33,000. First Horizon Advisors Inc. grew its stake in Primerica by 1,714.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock worth $35,000 after buying an additional 120 shares during the last quarter. AdvisorNet Financial Inc increased its position in Primerica by 108.5% during the second quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider’s stock worth $41,000 after buying an additional 77 shares during the period. Finally, Headlands Technologies LLC lifted its stake in Primerica by 2,300.0% in the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider’s stock valued at $48,000 after buying an additional 161 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $259.65, for a total value of $649,125.00. Following the sale, the chief executive officer owned 33,892 shares of the company’s stock, valued at approximately $8,800,057.80. This represents a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Primerica Stock Down 0.0%

Shares of NYSE PRI opened at $253.97 on Monday. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 11.67 and a beta of 0.96. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $307.91. The firm has a 50-day moving average price of $267.33 and a 200 day moving average price of $267.13.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.52 by $0.81. The company had revenue of $838.88 million for the quarter, compared to analyst estimates of $817.81 million. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.83 earnings per share. Equities research analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $4.16 annualized dividend and a yield of 1.6%. Primerica’s payout ratio is currently 19.12%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Primerica in a research report on Wednesday, October 8th. BMO Capital Markets upgraded shares of Primerica from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $292.00 to $318.00 in a research note on Tuesday, September 23rd. Piper Sandler set a $292.00 price objective on shares of Primerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods lowered their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Tuesday, November 11th. Finally, Zacks Research raised Primerica from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $309.83.

Primerica 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.