Primerica, Inc. $PRI Stock Position Lowered by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its stake in Primerica, Inc. (NYSE:PRI) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,200 shares of the financial services provider’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Primerica were worth $2,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in Primerica by 17.1% in the 1st quarter. Assetmark Inc. now owns 1,778 shares of the financial services provider’s stock worth $506,000 after buying an additional 260 shares in the last quarter. Cerity Partners LLC lifted its position in Primerica by 21.7% in the 1st quarter. Cerity Partners LLC now owns 5,201 shares of the financial services provider’s stock worth $1,480,000 after buying an additional 927 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in Primerica in the 1st quarter worth approximately $2,683,000. Ausbil Investment Management Ltd lifted its position in Primerica by 75.9% in the 1st quarter. Ausbil Investment Management Ltd now owns 5,329 shares of the financial services provider’s stock worth $1,516,000 after buying an additional 2,299 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Primerica in the 1st quarter worth approximately $1,922,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.61% of the company’s stock.

Primerica Trading Down 1.2%

Primerica stock opened at $265.88 on Friday. The company has a market capitalization of $8.61 billion, a P/E ratio of 13.14 and a beta of 0.97. The firm’s fifty day simple moving average is $269.85 and its 200-day simple moving average is $267.42. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.28. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The business had revenue of $796.02 million for the quarter, compared to analyst estimates of $790.99 million. During the same period last year, the business posted $4.71 EPS. Primerica’s revenue was up .3% compared to the same quarter last year. On average, equities research analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 22nd were paid a $1.04 dividend. The ex-dividend date was Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. Primerica’s dividend payout ratio (DPR) is presently 20.55%.

Wall Street Analysts Forecast Growth

PRI has been the subject of a number of research analyst reports. Jefferies Financial Group cut their target price on shares of Primerica from $293.00 to $283.00 and set a “hold” rating for the company in a research report on Monday, August 11th. Morgan Stanley cut their target price on shares of Primerica from $308.00 to $306.00 and set an “equal weight” rating for the company in a research report on Tuesday. Piper Sandler set a $292.00 price target on shares of Primerica and gave the company a “neutral” rating in a report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Primerica in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $314.86.

Primerica Company 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.