First Trust Advisors LP Has $136.60 Million Holdings in Primerica, Inc. $PRI

First Trust Advisors LP raised its holdings in Primerica, Inc. (NYSE:PRI) by 12.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 492,083 shares of the financial services provider’s stock after acquiring an additional 54,158 shares during the period. First Trust Advisors LP owned about 1.54% of Primerica worth $136,597,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Burgundy Asset Management Ltd. raised its position in shares of Primerica by 1.8% during the second 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 period. Dimensional Fund Advisors LP grew its position in shares of Primerica by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 613,329 shares of the financial services provider’s stock valued at $170,248,000 after purchasing an additional 2,525 shares during the period. Bank of New York Mellon Corp grew its position in shares of Primerica by 1.0% in the 2nd 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 purchasing an additional 3,024 shares during the period. Westfield Capital Management Co. LP increased its stake in Primerica by 2.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 256,774 shares of the financial services provider’s stock worth $71,278,000 after purchasing an additional 6,623 shares in the last quarter. Finally, Nordea Investment Management AB bought a new stake in Primerica during the 3rd quarter worth approximately $51,004,000. 90.88% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total value of $641,025.00. Following the completion of the sale, the chief executive officer directly owned 27,392 shares of the company’s stock, valued at $7,023,582.72. This trade represents a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PRI shares. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Morgan Stanley dropped their price objective on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings raised shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Keefe, Bruyette & Woods reduced their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Tuesday, November 11th. Finally, TD Cowen reiterated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $298.60.

Primerica Price Performance

Primerica stock opened at $257.65 on Monday. The company’s 50-day moving average is $260.65 and its 200-day moving average is $263.07. The firm has a market capitalization of $8.16 billion, a PE ratio of 11.24 and a beta of 0.92. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $296.00.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.69 by $0.44. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The business had revenue of $853.51 million during the quarter, compared to the consensus estimate of $839.65 million. During the same period last year, the business posted $5.03 EPS. Primerica’s revenue was up 8.3% on a year-over-year basis. As a group, analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 19th that allows the company to buyback $475.00 million in shares. This buyback authorization allows the financial services provider to buy up to 5.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be paid a $1.20 dividend. This is a positive change from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, February 23rd. Primerica’s dividend payout ratio is currently 20.93%.

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.