Copeland Capital Management LLC Reduces Holdings in Primerica, Inc. $PRI

Copeland Capital Management LLC lessened its holdings in Primerica, Inc. (NYSE:PRI) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,800 shares of the financial services provider’s stock after selling 3,412 shares during the period. Copeland Capital Management LLC owned 0.30% of Primerica worth $26,871,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Burgundy Asset Management Ltd. raised its position in shares of Primerica by 1.8% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,333,473 shares of the financial services provider’s stock worth $364,932,000 after purchasing an additional 23,454 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Primerica by 35.9% in the second quarter. First Trust Advisors LP now owns 437,925 shares of the financial services provider’s stock worth $119,847,000 after acquiring an additional 115,754 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Primerica by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 318,653 shares of the financial services provider’s stock valued at $87,206,000 after acquiring an additional 3,024 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Primerica by 171.8% in the first quarter. AQR Capital Management LLC now owns 315,986 shares of the financial services provider’s stock valued at $89,907,000 after acquiring an additional 199,715 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Primerica by 21.7% during the second quarter. Qube Research & Technologies Ltd now owns 171,172 shares of the financial services provider’s stock valued at $46,845,000 after acquiring an additional 30,533 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $255.30, for a total transaction of $510,600.00. Following the completion of the sale, the president owned 7,301 shares of the company’s stock, valued at approximately $1,863,945.30. This represents a 21.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joel M. Babbit sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total transaction of $178,500.00. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at $2,142,000. The trade was a 7.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 5,200 shares of company stock worth $1,338,225. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Zacks Research downgraded shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Morgan Stanley set a $292.00 price objective on shares of Primerica in a research report on Monday, December 15th. Piper Sandler set a $292.00 target price on shares of Primerica and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. BMO Capital Markets upgraded Primerica from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $292.00 to $318.00 in a report on Tuesday, September 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Primerica in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Primerica currently has an average rating of “Hold” and an average price target of $300.00.

Primerica Stock Down 0.5%

Shares of PRI opened at $259.01 on Tuesday. The firm has a market cap of $8.27 billion, a PE ratio of 11.90 and a beta of 0.90. The company’s fifty day moving average is $258.31 and its two-hundred day moving average is $264.69. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $298.75.

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

Primerica announced that its Board of Directors has authorized a share repurchase program on Wednesday, November 19th that allows the company to buyback $475.00 million in shares. This buyback authorization allows the financial services provider to repurchase up to 5.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Primerica Announces Dividend

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

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.