Algert Global LLC Purchases 3,990 Shares of Primerica, Inc. $PRI

Algert Global LLC increased its position in Primerica, Inc. (NYSE:PRI) by 16.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,721 shares of the financial services provider’s stock after buying an additional 3,990 shares during the period. Algert Global LLC owned 0.09% of Primerica worth $7,695,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRI. Burgundy Asset Management Ltd. boosted 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 valued at $364,932,000 after acquiring an additional 23,454 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Primerica by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 613,329 shares of the financial services provider’s stock worth $170,248,000 after acquiring an additional 2,525 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Primerica by 12.4% in the 3rd quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock worth $136,597,000 after acquiring an additional 54,158 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Primerica by 25.5% during the 3rd quarter. AQR Capital Management LLC now owns 347,531 shares of the financial services provider’s stock worth $96,089,000 after purchasing an additional 70,510 shares during the period. Finally, Westfield Capital Management Co. LP grew its holdings 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 valued at $71,278,000 after purchasing an additional 6,623 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Price Performance

Shares of PRI opened at $249.96 on Tuesday. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 10.90 and a beta of 0.92. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $296.00. The company has a 50-day moving average of $259.65 and a 200 day moving average of $262.36.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $839.65 million. During the same period in the prior year, the firm earned $5.03 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, February 23rd were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, February 23rd. This is an increase from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio (DPR) is 20.93%.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRI shares. Morgan Stanley reduced their price objective on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Finally, Zacks Research downgraded 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $298.60.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total transaction of $454,284.00. Following the transaction, the president owned 11,611 shares of the company’s stock, valued at approximately $2,930,384.18. This represents a 13.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total value of $641,025.00. Following the transaction, the chief executive officer owned 27,392 shares in the company, valued at approximately $7,023,582.72. This represents a 8.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.61% of the company’s stock.

Primerica 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.