Edgestream Partners L.P. Purchases Shares of 8,031 Primerica, Inc. (NYSE:PRI)

Edgestream Partners L.P. acquired a new position in shares of Primerica, Inc. (NYSE:PRI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,031 shares of the financial services provider’s stock, valued at approximately $1,588,000.

Several other hedge funds also recently made changes to their positions in the company. Great Lakes Advisors LLC grew its holdings in shares of Primerica by 1.1% during the second quarter. Great Lakes Advisors LLC now owns 58,457 shares of the financial services provider’s stock worth $11,560,000 after purchasing an additional 624 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Primerica by 32.7% during the second quarter. Quadrant Capital Group LLC now owns 459 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 113 shares during the last quarter. Cambria Investment Management L.P. purchased a new position in shares of Primerica during the second quarter worth about $437,000. Citigroup Inc. grew its holdings in shares of Primerica by 17.1% during the second quarter. Citigroup Inc. now owns 6,403 shares of the financial services provider’s stock worth $1,266,000 after purchasing an additional 933 shares during the last quarter. Finally, EULAV Asset Management grew its holdings in shares of Primerica by 5.4% during the second quarter. EULAV Asset Management now owns 27,200 shares of the financial services provider’s stock worth $5,379,000 after purchasing an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 90.56% of the company’s stock.

Insider Buying and Selling at Primerica

In other Primerica news, CFO Alison S. Rand sold 3,000 shares of Primerica stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $202.26, for a total value of $606,780.00. Following the sale, the chief financial officer now owns 9,444 shares of the company’s stock, valued at approximately $1,910,143.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Alison S. Rand sold 3,000 shares of Primerica stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $202.26, for a total transaction of $606,780.00. Following the completion of the sale, the chief financial officer now directly owns 9,444 shares in the company, valued at approximately $1,910,143.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 3,500 shares of Primerica stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $201.43, for a total transaction of $705,005.00. Following the sale, the president now owns 9,524 shares of the company’s stock, valued at $1,918,419.32. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate insiders.

Primerica Trading Down 0.5 %

Shares of PRI opened at $207.89 on Tuesday. Primerica, Inc. has a twelve month low of $135.00 and a twelve month high of $220.00. The stock’s 50 day moving average is $200.62 and its two-hundred day moving average is $198.77. The firm has a market capitalization of $7.28 billion, a PE ratio of 13.75 and a beta of 1.16.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $4.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.25. Primerica had a return on equity of 28.00% and a net margin of 19.94%. The company had revenue of $710.90 million for the quarter, compared to analyst estimates of $703.50 million. During the same quarter in the previous year, the company earned $3.02 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, sell-side analysts predict that Primerica, Inc. will post 16 EPS for the current year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Monday, November 20th. Primerica’s dividend payout ratio is presently 17.20%.

Analyst Ratings Changes

PRI has been the topic of several research reports. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. Jefferies Financial Group lowered their price target on Primerica from $198.00 to $197.00 and set a “hold” rating on the stock in a report on Thursday, September 14th. Truist Financial raised their price target on Primerica from $240.00 to $260.00 in a report on Wednesday, August 9th. Finally, Morgan Stanley raised their price target on Primerica from $190.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 15th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $219.20.

About Primerica

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.