Primerica, Inc. $PRI Shares Sold by Lyrical Asset Management LP

Lyrical Asset Management LP trimmed its holdings in shares of Primerica, Inc. (NYSE:PRI) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 541,327 shares of the financial services provider’s stock after selling 23,838 shares during the quarter. Primerica makes up approximately 1.9% of Lyrical Asset Management LP’s investment portfolio, making the stock its 25th largest position. Lyrical Asset Management LP’s holdings in Primerica were worth $139,857,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in shares of Primerica by 186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after buying an additional 69 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Primerica during the 4th quarter worth approximately $30,000. Torren Management LLC acquired a new position in shares of Primerica during the 4th quarter worth approximately $50,000. Hantz Financial Services Inc. raised its stake in shares of Primerica by 620.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock worth $60,000 after buying an additional 186 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Primerica during the 4th quarter worth approximately $67,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Performance

Shares of PRI opened at $266.25 on Monday. Primerica, Inc. has a one year low of $230.09 and a one year high of $288.03. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 11.16 and a beta of 0.88. The stock has a 50 day moving average price of $269.29 and a 200 day moving average price of $262.15.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping the consensus estimate of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The firm had revenue of $872.30 million during the quarter, compared to analysts’ expectations of $855.36 million. During the same period in the previous year, the business earned $5.02 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts predict that Primerica, Inc. will post 24.45 earnings per share for the current year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 21st will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, May 21st. Primerica’s dividend payout ratio is presently 20.13%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PRI. Weiss Ratings raised Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Morgan Stanley boosted their price target on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Keefe, Bruyette & Woods boosted their price target on Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $297.80.

Insider Transactions at Primerica

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $279.64, for a total value of $503,352.00. Following the completion of the sale, the president directly owned 9,811 shares in the company, valued at $2,743,548.04. This represents a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by insiders.

About Primerica

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.