Vista Investment Partners LLC Takes $2.72 Million Position in Primerica, Inc. $PRI

Vista Investment Partners LLC purchased a new position in Primerica, Inc. (NYSE:PRI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,517 shares of the financial services provider’s stock, valued at approximately $2,717,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its position in shares of Primerica by 12.4% in the third quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock valued at $136,597,000 after buying an additional 54,158 shares during the last quarter. Prana Capital Management LP grew its stake in Primerica by 22.8% during the 3rd quarter. Prana Capital Management LP now owns 66,916 shares of the financial services provider’s stock valued at $18,575,000 after acquiring an additional 12,432 shares in the last quarter. Nordea Investment Management AB purchased a new stake in Primerica during the 3rd quarter valued at about $51,004,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of Primerica by 115.1% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 11,774 shares of the financial services provider’s stock valued at $3,268,000 after purchasing an additional 6,300 shares during the last quarter. Finally, Moran Wealth Management LLC acquired a new stake in shares of Primerica in the third quarter valued at approximately $2,121,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Price Performance

Shares of NYSE:PRI opened at $253.87 on Thursday. The firm has a market capitalization of $8.04 billion, a PE ratio of 11.07 and a beta of 0.90. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $291.64. The firm’s 50-day moving average is $256.30 and its two-hundred day moving average is $260.61.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, beating the consensus estimate of $5.69 by $0.44. The business had revenue of $853.51 million during the quarter, compared to analyst estimates of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $5.03 earnings per share. Analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, February 23rd were given a $1.20 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $4.80 annualized dividend and a yield of 1.9%. This is a boost from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio is 20.93%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PRI. Keefe, Bruyette & Woods reissued a “hold” rating and set a $290.00 price objective on shares of Primerica in a research note on Thursday, March 26th. Morgan Stanley dropped their price objective on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Finally, Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $293.60.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total value of $641,025.00. Following the sale, the chief executive officer directly owned 27,392 shares in the company, valued at approximately $7,023,582.72. This trade represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total value of $454,284.00. Following the completion of the transaction, the president owned 11,611 shares of the company’s stock, valued at approximately $2,930,384.18. This trade represents a 13.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.61% of the company’s stock.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.