Primerica, Inc. $PRI Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its holdings in shares of Primerica, Inc. (NYSE:PRI) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 613,329 shares of the financial services provider’s stock after buying an additional 2,525 shares during the quarter. Dimensional Fund Advisors LP owned about 1.89% of Primerica worth $170,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Root Financial Partners LLC purchased a new position in shares of Primerica in the 3rd quarter worth $27,000. Smartleaf Asset Management LLC lifted its position in Primerica by 186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 69 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Primerica during the third quarter worth $33,000. First Horizon Advisors Inc. lifted its holdings in Primerica by 1,714.3% in 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 in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in Primerica by 620.0% in the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Trading Down 1.7%

PRI stock opened at $252.93 on Tuesday. The firm’s 50-day moving average is $260.53 and its two-hundred day moving average is $262.99. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 11.03 and a beta of 0.92. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $296.00.

Primerica (NYSE:PRI) last posted its quarterly earnings data 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 analysts’ expectations of $839.65 million. During the same period last year, the firm posted $5.03 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica declared that its board has initiated a share repurchase program on Wednesday, November 19th that permits the company to buyback $475.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 5.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be given a dividend of $1.20 per share. This is a boost from Primerica’s previous quarterly dividend of $1.04. The ex-dividend date is Monday, February 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. Primerica’s payout ratio is 20.93%.

Insider Activity

In other news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 27,392 shares of the company’s stock, valued at approximately $7,023,582.72. The trade was a 8.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. TD Cowen restated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods decreased 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 report on Tuesday, November 11th. Morgan Stanley reduced their price objective on Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. Finally, Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Three 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 a consensus rating of “Hold” and a consensus target price of $298.60.

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.