Radnor Capital Management LLC Invests $316,000 in Primerica, Inc. (NYSE:PRI)

Radnor Capital Management LLC bought a new position in shares of Primerica, Inc. (NYSE:PRI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,600 shares of the financial services provider’s stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC acquired a new position in Primerica in the 4th quarter valued at $210,472,000. Norges Bank acquired a new position in Primerica in the 4th quarter valued at $50,974,000. Victory Capital Management Inc. grew its holdings in shares of Primerica by 27.4% during the 4th quarter. Victory Capital Management Inc. now owns 811,888 shares of the financial services provider’s stock worth $115,142,000 after purchasing an additional 174,822 shares in the last quarter. AGF Management Ltd. grew its holdings in shares of Primerica by 27.4% during the 1st quarter. AGF Management Ltd. now owns 573,631 shares of the financial services provider’s stock worth $98,802,000 after purchasing an additional 123,518 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of Primerica by 52.8% during the 1st quarter. Royal London Asset Management Ltd. now owns 232,091 shares of the financial services provider’s stock worth $31,748,000 after purchasing an additional 80,152 shares in the last quarter. 90.56% of the stock is currently owned by institutional investors.

Primerica Trading Down 0.7 %

PRI traded down $1.52 during trading on Friday, hitting $202.27. 31,948 shares of the company’s stock traded hands, compared to its average volume of 145,906. The company’s 50 day simple moving average is $206.39 and its two-hundred day simple moving average is $189.82. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 16.62 and a beta of 1.18. Primerica, Inc. has a 12-month low of $120.96 and a 12-month high of $220.00.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Monday, August 7th. The financial services provider reported $3.99 EPS for the quarter, beating analysts’ consensus estimates of $3.81 by $0.18. The business had revenue of $688.40 million for the quarter, compared to analysts’ expectations of $704.91 million. Primerica had a return on equity of 28.48% and a net margin of 16.55%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $2.86 earnings per share. On average, equities analysts expect that Primerica, Inc. will post 15.63 EPS for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Monday, August 21st were issued a dividend of $0.65 per share. The ex-dividend date was Friday, August 18th. This represents a $2.60 dividend on an annualized basis and a yield of 1.29%. Primerica’s dividend payout ratio is presently 21.21%.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $201.43, for a total transaction of $705,005.00. Following the completion of the transaction, the president now owns 9,524 shares in the company, valued at $1,918,419.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Peter W. Schneider sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $201.43, for a total transaction of $705,005.00. Following the completion of the transaction, the president now owns 9,524 shares in the company, valued at $1,918,419.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Glenn J. Williams sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $213.47, for a total value of $853,880.00. Following the transaction, the chief executive officer now owns 51,583 shares of the company’s stock, valued at approximately $11,011,423.01. The disclosure for this sale can be found here. Insiders have sold a total of 10,500 shares of company stock valued at $2,165,665 over the last ninety days. 0.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PRI shares. Truist Financial upped their price objective on Primerica from $240.00 to $260.00 in a research report on Wednesday, August 9th. Morgan Stanley raised their target price on Primerica from $171.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Friday, August 18th. Jefferies Financial Group reduced their price objective on Primerica from $198.00 to $197.00 and set a “hold” rating for the company in a research note on Thursday. Finally, StockNews.com assumed coverage on Primerica in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Primerica currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.20.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.