Amalgamated Bank Cuts Stake in Primerica, Inc. (NYSE:PRI)

Amalgamated Bank cut its position in Primerica, Inc. (NYSE:PRI) by 3.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 27,413 shares of the financial services provider’s stock after selling 889 shares during the period. Amalgamated Bank owned approximately 0.08% of Primerica worth $5,640,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PRI. Los Angeles Capital Management LLC lifted its position in Primerica by 47.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock valued at $25,840,000 after acquiring an additional 40,647 shares in the last quarter. New York Life Investment Management LLC boosted its position in shares of Primerica by 6.5% during the fourth quarter. New York Life Investment Management LLC now owns 4,092 shares of the financial services provider’s stock valued at $842,000 after buying an additional 248 shares during the last quarter. Van ECK Associates Corp increased its holdings in Primerica by 37.4% in the 4th quarter. Van ECK Associates Corp now owns 9,161 shares of the financial services provider’s stock worth $1,885,000 after buying an additional 2,494 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Primerica by 20.7% in the 4th quarter. Russell Investments Group Ltd. now owns 30,358 shares of the financial services provider’s stock worth $6,247,000 after buying an additional 5,202 shares in the last quarter. Finally, Atria Wealth Solutions Inc. lifted its stake in Primerica by 10.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,409 shares of the financial services provider’s stock valued at $290,000 after acquiring an additional 130 shares during the period. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

PRI opened at $222.75 on Tuesday. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 14.03 and a beta of 1.10. The firm’s fifty day moving average is $237.10 and its 200 day moving average is $223.33. Primerica, Inc. has a fifty-two week low of $176.81 and a fifty-two week high of $256.56.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing the consensus estimate of $4.12 by ($0.21). Primerica had a return on equity of 27.83% and a net margin of 20.37%. The business had revenue of $742.83 million during the quarter, compared to the consensus estimate of $740.57 million. During the same quarter in the previous year, the company earned $3.49 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that Primerica, Inc. will post 17.78 earnings per share for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.75 per share. This is a positive change from Primerica’s previous quarterly dividend of $0.65. The ex-dividend date was Tuesday, February 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. Primerica’s dividend payout ratio (DPR) is presently 18.89%.

Analyst Ratings Changes

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

Insider Transactions at Primerica

In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total transaction of $302,535.00. Following the completion of the transaction, the director now owns 16,467 shares in the company, valued at $4,100,283. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the transaction, the chief operating officer now owns 3,379 shares in the company, valued at $829,307.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Jr. Addison sold 1,215 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total transaction of $302,535.00. Following the completion of the sale, the director now owns 16,467 shares of the company’s stock, valued at approximately $4,100,283. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,708 shares of company stock valued at $1,648,677. 0.61% of the stock is currently owned by insiders.

About Primerica

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.