Primerica, Inc. (NYSE:PRI) Stock Holdings Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its position in shares of Primerica, Inc. (NYSE:PRI) by 12.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,283 shares of the financial services provider’s stock after selling 3,884 shares during the period. New York State Common Retirement Fund owned about 0.08% of Primerica worth $5,614,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Invesco Ltd. raised its stake in Primerica by 110.6% during the third quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock worth $87,200,000 after acquiring an additional 236,051 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Primerica by 86.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock worth $23,010,000 after purchasing an additional 55,076 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Primerica by 378.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 50,445 shares of the financial services provider’s stock valued at $9,787,000 after purchasing an additional 39,905 shares during the period. Alps Advisors Inc. bought a new position in Primerica during the 3rd quarter worth $6,098,000. Finally, Los Angeles Capital Management LLC increased its position in Primerica by 44.1% in the third quarter. Los Angeles Capital Management LLC now owns 84,938 shares of the financial services provider’s stock worth $16,479,000 after buying an additional 25,981 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Buying and Selling

In related news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the sale, the president now directly owns 13,259 shares in the company, valued at $3,227,373.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total transaction of $58,455.54. Following the completion of the sale, the insider now directly owns 100 shares of the company’s stock, valued at $24,981. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the transaction, the president now owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The disclosure for this sale can be found here. Insiders have sold 6,708 shares of company stock worth $1,648,677 in the last ninety days. 0.85% of the stock is currently owned by corporate insiders.

Primerica Price Performance

Shares of NYSE:PRI opened at $217.99 on Friday. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of 13.73 and a beta of 1.10. Primerica, Inc. has a 12 month low of $173.00 and a 12 month high of $256.56. The stock’s 50 day moving average price is $237.59 and its 200 day moving average price is $223.10.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.27 by ($0.02). The firm had revenue of $726.34 million during the quarter, compared to analyst estimates of $723.64 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.49 EPS. On average, sell-side analysts expect that Primerica, Inc. will post 17.78 EPS for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were paid a $0.75 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $3.00 annualized dividend and a dividend yield of 1.38%. This is a boost from Primerica’s previous quarterly dividend of $0.65. Primerica’s payout ratio is currently 18.89%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods boosted their price objective on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Truist Financial raised their target price on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Finally, StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $245.50.

Primerica Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services 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.